The extreme heat wilting crop harvests across the U.S. is exerting a “big” toll on input prices, the chief executive of Sunny Delight told CNBC Wednesday, issuing a call for the government to suspend mandates that divert corn into biofuels.
Costs to the company and consumers “are going up quite a bit,” William “Billy” Cyr, president and CEO of Sunny Delight, warned on CNBC’s “Street Signs.” “The impact of this drought is big, it happened incredibly quickly, and the impact of it is going to be around for quite some time.”