Nestle Bears Buy Ebola Cover Amid Spike in Cocoa Prices
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Surging cocoa prices mean making a KitKat bar is getting a lot more expensive.
That’s prompting traders to load up on bearish options on Nestle SA before the company reports sales this month. With cocoa harvesting season in full swing, concern that the spread of Ebola will disrupt bean shipments helped send prices to the highest since 2011. Bearish contracts on the maker of Baby Ruth bars cost the most relative to bullish ones in more than a year.