Trump Says Coca-Cola Will Use Cane Sugar In US; ADM, Ingredion Stocks Fall

Archer-Daniels-Midland (ADM) and Ingredion (INGR) stocks fell in extended trading on Wednesday after President Donald Trump said that Coca-Cola has agreed to use cane sugar in Coke beverages sold in the U.S.

“I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so. I’d like to thank all of those in authority at Coca-Cola,” Trump wrote on Truth Social.

According to the beverage maker’s website, Coca-Cola contains the sweetener high fructose corn syrup, widely used in processed foods. Corn syrup makers ADM and Ingredion fell 6% and 7%, respectively, after hours.

According to a Bloomberg report, Coca-Cola stated that it appreciates Trump’s enthusiasm for the brand and will share more details about changes to its product offerings soon. The company already uses cane sugar in Mexico.

Retail sentiment on Stocktwits about both ADM and Ingredion was in the ‘bullish’ territory.

According to ADM’s annual report, the company generated $8.6 billion in revenue in 2024 from its starches and sweeteners segment, accounting for about 10% of the grain merchant’s total revenue.

Health Secretary Robert F. Kennedy Jr., who has been very vocal about the perils of the amount of sugar consumed by Americans, is expected to publish updated dietary guidelines for Americans soon. A report by the Make America Healthy Again (MAHA) initiative of the Trump administration on chronic diseases highlighted that the consumption of high-fructose corn syrup could cause childhood obesity and other conditions.

The move will likely invite opposition from farmers in the U.S. Midwest. The U.S. is the world’s top corn producer.

“Replacing high fructose corn syrup with cane sugar would cost thousands of American food manufacturing jobs, depress farm income, and boost imports of foreign sugar, all with no nutritional benefit,” said Corn Refiners Association President John Bode.

Trump is often seen consuming Diet Coke, which uses the artificial sweetener aspartame. He famously installed a ‘Diet Coke’ button in the Resolute Desk at the Oval Office during both his terms.

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