Archer Daniels Midland Inc. (ADM) A sign displayed on the side of the grain storage box of the ADM Grain Elevator in Niantic, Illinois.
Daniel Acker | Bloomberg | Getty Images
High fructose syrup producer stock Archer Daniels Midland It fell sharply on Thursday after President Donald Trump announced he had persuaded him coca cola Use real cane sugar in your US drink
“I’ve been talking to Coca-Cola about using real cane sugar in US Cola. They agreed to do so. I want to thank all those who have the authority to Coca-Cola.”
“This will be a very good move by them – you will see. It’s just good!” Trump also wrote.
In pre-market trading, ADM stocks have recently dropped by more than 3%. However, the stock fell by 6% in comments. Other related stocks, including global ingredient providers, also fell Formlost more than 4%.
ADM, one day
This move comes as stocks have made profits over the past few months and has risen about 13% over the past three times. It has also increased by nearly 7% so far.
When asked about Trump’s announcement, Coca-Cola explicitly disagrees with the change.
“We appreciate President Trump’s enthusiasm for his iconic Coca-Cola brand,” the company said in a statement. “Details of new and innovative products within the range of Coca-Cola products will soon be shared.”
Coca-Cola shares rose 0.3% on Thursday, pre-market shares rose 0.3%. Stocks also rise more than 11% per year, surpassing the broader market.
Meanwhile, the Corn Refiners Association, an industry trade group, has issued warnings about potential unemployment that could follow such a switch.
“It’s pointless to replace fructose corn syrup with cane sugar,” said John Bord, president and CEO of the group. “President Trump stands for American manufacturing jobs, American farmers, reducing trade deficits. Replacing high-fructose corn syrup with cane sugar will reduce thousands of American food manufacturing jobs, farm incomes and increase imports of foreign sugar.
The Trump administration has previously asked food companies to redistrict their products, and health and human resources director Robert F. Kennedy Jr. told executives earlier this year that they wanted the “worst ingredients” from food.
