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Non-Tech : Philip Morris - A Stock For Wealth Or Poverty (MO) -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Haegin who wrote (1745)	6/8/1998 10:58:00 AM
From: Thomas Haegin	Respond to of 6439

FYI and in order to focus quickly on some other biz of MO: ---------------------------- Repost: Germany's KJS sees further chocolate price rises Reuters Story - June 08, 1998 08:14 ÿÿÿ BREMEN, Germany, June 8 (Reuters) - German chocolate manufacturer Suchard, part of Kraft Jacobs Suchard (KJS), is to seek further price rises in its confectionery products after a round of increases early in 1998, it said on Monday. ÿÿÿ "We see scope for further price increses at the end of 1998 and in early 1999," KJS chairman Bernhard Huber told a news conference. ÿÿÿ "It is to be expected and necessary." ÿÿÿ Suchard's costs for raw materials such as cocoa, sugar and fats rose by 30 percent last year. In the cocoa market the strength of sterling versus the mark caused extra problems. ÿÿÿ But he noted that Suchard had lost two percentage points in the market for solid chocolate bars when it raised the price of its flagship Milka product (100-grams) to 1.01 marks early in 1988 from 0.96 marks previously. ÿÿÿ Suchard is the German market leader in this sector of the confectionery market with 24.5 percent. ÿÿÿ He said in response to a question that worries over cocoa market supply fundamentals were exaggerated. ÿÿÿ Most large players in cocoa processing held solid long-term cover, Huber said. ÿÿÿ KJS is part of Philip Morris Inc .