The Hershey Company
) decision to support the San Juan de Cheni community in Junin,
Peru has helped to rebuild the local economy after it was
destroyed as a result of guerilla warfare. San Juan de Cheni is
known for an excellent variety of cocoa, which is used for
premium chocolate products. Hershey aided the economic revival of
the community by funding the local infrastructure for cocoa
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Since 2010, with the support of its sourcing partners Romex and
Mitsubishi, Hershey has been helping the community to improve the
quality and quantity of cocoa produced. Romex is one of the
largest agricultural trading companies in Peru and helped to set
up the agricultural infrastructure required to support cocoa
farming. On the other hand, Mitsubishi helped in exporting the
cocoa beans from Peru to the United States.
Hershey supports the farmers in the community by purchasing their
cocoa produce. The cocoa produced in San Juan de Cheni is third
party certified and conforms to Hershey's commitment of procuring
100% certified cocoa for all its products by 2020.
Hershey supports cocoa farmers across the world. Previously, in
Jun 2012, the company along with cocoa supplier, Agroindustrias
Unidas de Cacao SA de CV 'AMCO,' a member of the Ecom Cocoa
Group, initiated a $2.8 million Mexico Cocoa Project to restore
the struggling Southern Mexican cocoa farming industry and to
ensure a proper supply of cocoa in the future.
The rising price of cocoa is a matter of concern for the company.
It needs to secure its future supply of cocoa in order to
maintain its brand name and profitability in the long run.
Hershey carries a Zacks Rank #2 (Buy).
Other consumer staples stocks that are worth considering include
Boulder Brands, Inc.
Pinnacle Foods Inc.
Dole Food Company Inc.
). Pinnacle Foods carries a Zacks Rank #1 (Strong Buy), while
Boulder Brands and Dole Food Company carry a Zacks Rank #2 (Buy).