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Nestle Chairman Sees Cocoa, Coffee Supplies Remaining Strong

By Bill Tomson and Leslie Josephs Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Nestle SA (NSRGY, NESN.VX) Chairman Peter Brabeck-Letmathe said Friday he expects there will be a sufficient supply of cocoa and coffee from the major producing areas around the world for the next few years. Switzerland-based Nestle is among the largest cocoa and coffee-buying companies in the world. Recent political unrest in the Ivory Coast, the largest cocoa-producing country in the world caused a problem for cocoa users, Brabeck-Letmathe told Dow Jones Newswires, but stressed that was a "short-term" issue. Commodity trade houses Cargill Inc. and Archer Daniels Midland Co. (ADM) said this week that cocoa operations have resumed in the country. "Overall, I don't see any [reason why] there shouldn't be a sufficient supply of cocoa and coffee over the next few years," he said. But coffee is becoming a more expensive commodity for companies like Nestle. Futures of arabica coffee, the world's most widely consumed variety, have doubled over the past 12 months on IntercontinentalExchange, as growing demand and consecutive bad harvests limited the availability of beans. This week, Nestle's Nespresso coffee unit confirmed it is raising prices for its single serve coffee capsules to deal with spiraling raw material costs by two euro cents, or 6%, per capsule. Other leading manufacturers Kraft Foods Inc. (KFT), Starbucks Corp. (SBUX) and J.M. Smucker Co. (SJM) have also lifted prices this year because of higher raw material costs. -By Bill Tomson, Dow Jones Newswires; 202-646-0088; bill.tomson@dowjones.com

Stock News for Smuckers J M (SJM)
DateTimeHeadline
02/14/201409:27:14U.S. Hot Stocks: Hot Stocks to Watch
02/14/201409:25:35Smucker Cuts Year Guidance
02/09/201408:16:39MARKET SNAPSHOT: Stocks Stabilize; Now It's Up To Yellen, The...
11/15/201307:11:09AQR Capital Management 3Q 13F: Largest Purchases -2-
11/15/201307:11:09AQR Capital Management 3Q 13F: Largest Purchases
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep 30
11/15/201307:11:08AQR Capital Management 3Q 13F: Holdings As Of Sep -2-
08/21/201309:11:50U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
08/21/201308:20:08J.M. Smucker 1st-Quarter Net Up 14%; Acquires Enray
06/06/201316:44:32MARKET SNAPSHOT: U.S. Stocks Rebound After Choppy Session
06/06/201315:23:16MARKET SNAPSHOT: U.S. Stocks Fluctuate Wildly As Job Report Looms
06/06/201314:36:28MARKET SNAPSHOT: U.S. Stocks Edge Lower As Japanese Yen Jumps
05/31/201316:30:16WEEK AHEAD: More Retailers to Report; Jobs Report on Friday
05/03/201313:11:39Kraft Cuts Gevalia Coffee Price 6% Due to Lower Costs
04/12/201308:29:44Starbucks Lowers Price of Coffee Sold in Grocery Stores
02/22/201312:47:00Kraft Cuts U.S. Coffee Prices by 6%, Following J.M. Smucker
02/15/201312:50:05Campbell, Smuckers Sales Rise; Kraft Struggles
02/15/201312:43:17Campbell, Smuckers Sales Rise; Kraft Struggles After Spinoff
02/08/201316:40:23WEEK AHEAD: McGraw-Hill, Consumer-Foods Companies to Report Results
11/08/201207:30:16Green Mountain's Keurig Steps Up to Competition with Espresso...

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