Why Coke Isn't Getting Rid of High-Fructose Corn Syrup

Summary

The Journal: Why Coke Isn't Getting Rid of High-Fructose Corn Syrup
Released on July 31, 2025
Hosted by Ryan Knutson and Jessica Mendoza
Produced by The Wall Street Journal & Spotify Studios

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Introduction: A Classy Taste Test

In the latest episode of The Journal, hosts Annie Minoff and Laura Cooper delve into the enduring debate over Coca Cola's sweetening agents. The episode kicks off with a "taste test" segment designed to distinguish between Coca Cola made with cane sugar and that made with high-fructose corn syrup (HFCS).

[00:05] Annie Minoff introduces the segment:
"In front of you, you have two beverages, two cups, actually, wine glasses... One of them is made with cane sugar, the other one with high fructose corn syrup."

During the taste test, Laura confidently identifies the syrup used in each sample, only to be proven wrong. This playful experiment sets the stage for a deeper exploration of the ingredients that sweeten one of America’s favorite beverages.

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Trump’s Proposition: A Push for Cane Sugar

The episode takes a pivotal turn when President Donald Trump publicly expresses his preference for Coca Cola made with real cane sugar over HFCS.

[01:43] Laura Cooper recounts:
"President Donald Trump... said that he had been in contact with Coca Cola about using cane sugar and that they'd agreed to do so."

[01:54] Annie Minoff highlights Trump’s statement:
"‘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.’"

This announcement triggered widespread speculation about a potential recipe change in Coca Cola, igniting debates among consumers, industry experts, and health advocates.

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Historical Context: Sugar’s Role in Coca Cola

To understand the significance of moving away from sugar imports, The Journal provides a historical backdrop:

[03:56] Annie Minoff explains:
"The recipe for Coca Cola is famously secret. But when the drink debuted in 1886, one ingredient was a given. Sugar."

However, due to the unfavorable climate in much of the U.S. for growing sugar cane, Coca Cola historically relied on imports, particularly from Cuba. The [04:17] Laura Cooper adds:
"It's a very specific crop in a very specific environment humidity wise."

This reliance made Coca Cola vulnerable to geopolitical shifts, as seen in the 1950s when the Cuban Revolution disrupted sugar imports, leading to increased costs and scarcity.

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Transition to High-Fructose Corn Syrup

Faced with rising sugar prices and limited supply, Coca Cola and other soda manufacturers turned to high-fructose corn syrup as a more economical and abundant sweetener.

[05:07] Laura Cooper details the shift:
"It meant they had to find another way to sweeten their drinks... they turn to high fructose corn syrup."

Developed in the 1950s and 60s, HFCS became a staple in the beverage industry due to its lower cost compared to sugar and its effective sweetening properties.

[05:51] Laura Cooper further explains:
"It's a syrup that is used as a sweetener. Basically, more than 7 million tons are produced by mills that grind up corn to make these sweeteners."

By the 1980s, Coca Cola had fully embraced HFCS, a change that persists to this day in the majority of its U.S. products.

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Health Implications: Sugar vs. High-Fructose Corn Syrup

The episode addresses the ongoing health debates surrounding HFCS and cane sugar.

[09:45] Laura Cooper notes:
"RFK has said that he believes high fructose corn syrup is a recipe for obesity and diabetes."

However, Annie Minoff provides a balanced view:
"Some studies have found very little difference between drinks sweetened with high fructose corn syrup and drinks sweetened with sucrose, AKA cane sugar."
"What really matters from a health perspective is how much sugar or high fructose corn syrup you're consuming."

Both sweeteners contribute to similar health risks when consumed in excess, including weight gain, type 2 diabetes, and heart disease. Medical professionals uniformly agree that sugary drinks are detrimental to health, regardless of the sweetener used.

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Economic and Industry Reactions

The potential shift back to cane sugar poses significant challenges for Coca Cola, primarily due to economic and supply chain constraints.

[12:02] Laura Cooper outlines the issues:
"There's just not enough sugar in the country. The sugar that is here is expensive. That's a structural issue. That's a government issue."

Moreover, [12:46] Laura Cooper highlights the corn industry's concerns:
"The corn industry is very concerned because roughly 3% of US corn production goes towards making corn syrup for food and drinks."
"If you were to get rid of this for US Food and beverage products, that would slash corn prices by as much as 34 cents a bushel."

These economic dependencies make a complete switch away from HFCS to cane sugar highly impractical for large-scale soda production.

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Coca Cola's Strategic Response: Introducing a Cane Sugar Line

In response to the mounting pressure and Trump’s public statements, Coca Cola clarified its position during an earnings call.

[13:24] Coca Cola Voice announces:
"We're going to be bringing a Coke sweetened with US cane sugar into the market this fall. And I think that will be an enduring option for consumers."

Contrary to widespread rumors, Coca Cola is not planning to replace HFCS entirely but is instead introducing a new product line that offers an alternative for consumers who prefer cane sugar. This strategy allows Coca Cola to cater to diverse consumer preferences without overhauling its existing manufacturing processes.

[13:36] Laura Cooper summarizes her conversation with the CEO:
"He said, we are not leaving corn syrup. This is a line. He described it and I thought this was a good way to describe it as an and not or strategy."

This approach ensures that Coca Cola maintains its dominant position in the market while experimenting with product differentiation to appeal to niche segments.

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Conclusion: Limited Prospects for a Full Sugar Transition

While Coca Cola's introduction of a cane sugar-sweetened Coke marks a notable shift, it remains a limited endeavor. The entrenched use of HFCS, coupled with economic and supply challenges surrounding sugar, means that the dream of a full-scale return to cane sugar is unlikely in the near future.

[14:40] Annie Minoff concludes:
"So it sounds like for now kind of the dream of Coca Cola going back to real sugar is limited."

[14:48] Laura Cooper adds:
"Yes, it's limited, but it's not a limited time thing. It's just a limited line. So you would have to find Coca Cola US cane sugar."

Consumers interested in the cane sugar variant will need to seek out specific products, such as Mexican Coke or the upcoming US cane sugar-sweetened Coke, which are positioned as premium offerings alongside the traditional HFCS versions.

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Final Thoughts

The episode of The Journal effectively navigates the complex interplay between consumer preferences, economic constraints, and health considerations in the context of one of the world's most iconic beverages. Through insightful discussions and expert analysis, listeners gain a comprehensive understanding of why Coca Cola remains reliant on high-fructose corn syrup despite growing pressures to revert to more traditional sweeteners.

Notable Quotes with Timestamps:

• [00:05] Annie Minoff: "In front of you, you have two beverages... One of them is made with cane sugar, the other one with high fructose corn syrup."

• [01:54] Annie Minoff: "‘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.’"

• [05:07] Laura Cooper: "It meant they had to find another way to sweeten their drinks... they turn to high fructose corn syrup."

• [09:45] Laura Cooper: "RFK has said that he believes high fructose corn syrup is a recipe for obesity and diabetes."

• [13:24] Coca Cola Voice: "We're going to be bringing a Coke sweetened with US cane sugar into the market this fall."

This episode underscores the intricate balance businesses must maintain between innovation, consumer demand, and economic viability.

Transcript

[Annie Minoff]

Our colleague Laura Cooper covers the beverage industry, and earlier this week, she joined me in the studio for a taste test. In front of you, you have two beverages, two cups, actually, wine glasses, because we are a classy show with the Journal. Both of them have Coke in them. One of them is made with cane sugar, the other one with high fructose corn syrup.

[Laura Cooper]

Oh, it's like a wine tasting, but it's co.

[Annie Minoff]

Indeed. Go ahead. And let's start with this glass on the left.

[Laura Cooper]

All right. This is definitely it. 100%.

[Annie Minoff]

Oh, you're really confident that that's the high fructose corn syrup?

[Laura Cooper]

I'm very confident.

[Annie Minoff]

Tell me about the taste.

[Laura Cooper]

Well, it tastes like Coke. It's got, like, some hints of vanilla in there. The carbonation, There's a lot of carbonation. You can see it on the top. It's got a little bite to it and just tast. Very familiar.

[Annie Minoff]

All right, let's do the wine glass on the right now. All right. Give that a little.

[Laura Cooper]

This one has a lot less bubbles. Yeah. This is the real one, I think.

[Annie Minoff]

Yeah. Big reveal. You were wrong.

[Laura Cooper]

It's the other way around, really.

[Annie Minoff]

Your first taste was, in fact, the Coke with cane sugar.

[Laura Cooper]

Was it?

[Annie Minoff]

Laura wasn't able to tell the difference between Coke made with high fructose corn syrup and and Coke made with cane sugar. But one person says he definitely can. President Donald Trump.

[Laura Cooper]

So on Truth Social, a couple of weeks ago, he made a post about this, and he said that he had been in contact with Coca Cola about using cane sugar and that they'd agreed to do it.

[Annie Minoff]

Quote, 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.

[Laura Cooper]

And he said it was a very good move by them, and you'll see, it's just better.

[Annie Minoff]

Trump's declared preference for Coke with cane sugar and his announcement that Coca Cola would be making changes set off a frenzy of speculation about what was next for one of America's favorite drinks. But Laura had another question. Even if Coke wanted to make the switch to real sugar, could it pull it off without going flat?

[Laura Cooper]

I think it would be really tough. High fructose corn syrup isn't everything, and it has been for many decades, and there's just not enough sugar to go around.

[Annie Minoff]

Welcome to the Journal, our show about money, business, and power. I'm Annie Minoff. It's Thursday, July 31st. Coming up on the show, why Coca Cola embraced corn syrup and why it's so hard to turn back foreign.

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[Coca Cola Voice]

50 million times a day. At home, at work, or on the way. There's nothing like a Coca Cola. Nothing like Coca Cola.

[Annie Minoff]

The recipe for Coca Cola is famously secret. But when the drink debuted in 1886, one ingredient was a given. Sugar. Back then, sugar was the go to for most soda makers. But a lot of that sugar didn't come from the US the climate in most of the US Just isn't ideal for growing sugar cane.

[Laura Cooper]

It's a very specific crop in a very specific environment humidity wise.

[Annie Minoff]

Hot, humid, that's what you need for sugar.

[Laura Cooper]

Think of Louisiana. Yeah, yeah.

[Annie Minoff]

So to satisfy America's sweet tooth, soda makers like Coca Cola historically relied on sugar imports from other countries. And that reliance could leave them vulnerable. Take what happened in the 1950s. The US imported a lot of sugar from Cuba, and then the communist revolution there upended that trade.

[Coca Cola Voice]

Russians turned out in thousands to show the world, and America in particular, that Nikki loves Fidel. President Castro had the red carpet treatment all the way to the Red Square.

[Annie Minoff]

With Cuba now aligned with the U.S. s big Cold War enemy, the USSR, the U.S. put restrictions on importing Cuban sugar.

[Laura Cooper]

There were embargoes put in place. And the United States, it was very expensive to have sugar.

[Annie Minoff]

And so what did that rising price of sugar, you know, you have less supply, price goes up. What did that mean for soda companies like Coca Cola?

[Laura Cooper]

It meant they had to find another way to sweeten their drinks. Because if you're having a soda, you want to feel that, that crisp sweetness and they turn to high fructose corn syrup.

[Annie Minoff]

High fructose corn syrup. It was developed by scientists in the 50s and 60s who discovered a way to transform cornstarch into a sweet syrup containing a high amount of a sugar called fructose. And most importantly for soda makers, it was less expensive than sugar.

[Laura Cooper]

So it is a syrup that is used as a sweetener. Basically, more than 7 million tons are produced by mills that grind up corn to make these sweeteners. And they go into your soda. So instead of sugar, you'll put in the syrup and that will be the sweetener.

[Annie Minoff]

How different is it from sugar?

[Laura Cooper]

I mean, taste wise, it really. If you're someone who loves sugar, maybe you can taste the difference, but the industry would say it's not that different in terms of taste.

[Annie Minoff]

And what was great about high fructose corn syrup from a soda maker's perspective?

[Laura Cooper]

From a soda maker's perspective, we've got a lot of corn in America also. It's a lot cheaper than sugar. Right? And it does the same job as sugar. Arguably, it sweetens your soda. So if it's cheaper, it's plentiful, why not try it when things are really expensive?

[Annie Minoff]

Coca Cola and many other soda makers made the switch to high fructose corn syrup in the 1980s, and the change stuck.

[Laura Cooper]

Coca Cola, Pepsi, everybody is still using it in soda for the most part on a large scale, because we've got.

[Annie Minoff]

A lot of corn today. Pretty much all Coke sold in this country is made with high fructose corn syrup. But if you're motivated enough, you can still find Coke sweetened with real sugar. You've probably heard of it. It comes in a glass bottle and it's not made in the US.

[Laura Cooper]

So that would be the Mexican Coke, and that's made with Mexican cane sugar. It's more like boutique Y. Like, it's specialized. It's not like the one you'd pick up in Target while you're shopping.

[Annie Minoff]

And it has that glass bottle. It just feels a little classier.

[Laura Cooper]

It is in a glass bottle and a lot of people love it.

[Annie Minoff]

I'm telling you. Mexican Coke, like, hits different, man. They have different sugar. It is night and day. It's way more fresh and it has more flavor.

[Laura Cooper]

Tastes very, like, rich and carame. Real sugar.

[Coca Cola Voice]

I don't care what nobody say.

[Laura Cooper]

The Coke out of Mexico gas.

[Annie Minoff]

I've also heard that Coke during Passover tastes different.

[Laura Cooper]

Yes, that would be the Coke kosher for Passover. It has a yellow cap and it is made specifically with sugar.

[Annie Minoff]

So in the US you can find your Passover Coke and your Mexican Coke. But those are both pretty niche. High fructose corn syrup is still the main sweetener in your classic Coke. But then came Donald Trump's post promising to make Coke sugary again. But that is easier said than done. Trump's interest in Coke isn't new.

[Laura Cooper]

The President is a Coca Cola enthusiast. He drinks a lot of Diet Coke.

[Annie Minoff]

Trump famously has a button on the Oval Office's Resolute desk to summon a can of Diet Coke at will. But Trump's interest in Coke's ingredients, that seems new. And it may take its inspiration from a powerful wing in the Trump coalition, Maha, or the Make America Healthy Again movement, which has declared war on high fructose corn syrup. Stop consuming products that contain high fructose corn syrup. Any amount less of high fructose corn syrup in the American diet is a good thing for Americans in the U.S. they give us the addictive form that makes us fatter, sicker, and more prone to type 2 diabetes. Read the ingredients. It's got high fructose corn syrup. Did you? Robert F. Kennedy, Jr. Maha's leader and Trump's Secretary of Health and Human Services is one of those high fructose corn syrup critics.

[Laura Cooper]

It's interesting. RFK has said that he believes high fructose corn syrup is a recipe for obesity and diabetes. However, at the same time, he is called sugar poison. So it's a very interesting situation. I think that a lot of people, broadly, from what I understand, feel that cane sugar is healthier because it's not as processed and it grows out of the ground. Like you can literally go and cut down sugar cane. So I think that people just think that sugar is more natural.

[Annie Minoff]

But in terms of the health impact, some studies have found very little difference between drinks sweetened with high fructose corn syrup and drinks sweetened with sucrose, AKA cane sugar. What really matters from a health perspective is how much sugar or high fructose corn syrup you're consuming. Most people would be unified on the idea that sugary drinks are not good for you.

[Laura Cooper]

Yes, doctors are on board with this is not a health food.

[Annie Minoff]

Drinking lots of sugary soda is associated with weight gain and a higher risk of obesity, type 2 diabetes, and heart disease. A spokesman for Health and Human Services said that Secretary Kennedy welcomes any move that signals a return to natural ingredients. But he added, quote, no one is calling soda a health food. Trump's post about Coke tapped into the anti high fructose corn syrup zeitgeist, but it was pretty short on details. So Laura reached out to Coca Cola to try to figure out what was going on.

[Laura Cooper]

They were like, hold tight. And they did send out a blanket statement saying that they appreciated President Trump's enthusiasm for Coca Cola and to stay tuned to learn more about what was happening with the cane sugar.

[Annie Minoff]

Details were not immediately forthcoming. And so the sugar rumor mill went into overdrive. Was Coke really going to ditch high fructose corn syrup? Laura was skeptical at its core.

[Laura Cooper]

It's what I was yelling in the newsroom when this happened. There's just not enough sugar.

[Annie Minoff]

Many people may not like high fructose corn syrup right now, but Laura says that doesn't change the underlying economics for soda makers.

[Laura Cooper]

There's not enough sugar in the country. The sugar that is here is expensive. That's a structural issue. That's a government issue. That's a growing issue. That's a environment issue. And the industry is very used to and reliant on high fructose corn syrup and the corn industry. So these are very important things to them and very ingrained processes to change.

[Annie Minoff]

Could more sugar be imported?

[Laura Cooper]

Potentially, but there are tariffs in place with a lot of the providers of this sugar.

[Annie Minoff]

Sugar tariffs predate Trump. The US has long used quotas and tariffs to try to protect domestic sugar production. How has the corn industry responded to this pushback against high fructose corn syrup?

[Laura Cooper]

The corn industry is very concerned because roughly 3% of US corn production goes towards making corn syrup for food and drinks. And the Corn Refiners association estimates that if you were to get rid of this for US Food and beverage products, that would slash corn prices by as much as 34 cents a bushel. Also, you know, my colleague Patrick Thomas spoke to some farmers and they said if Coke decided to use cane sugar, that would hurt their bottom line big time. Like, it's a huge concern.

[Annie Minoff]

Finally, early last week, Coca Cola revealed its plans during an earnings call.

[Coca Cola Voice]

We're going to be bringing a Coke sweetened with US cane sugar into the market this fall. And I think that will be an enduring option for consumers.

[Annie Minoff]

Turns out the company was not changing the recipe for Coke. It wasn't going all in on sugar, as some believed that President Trump had suggested in his post. What it was doing was creating a new product line, a special new version of Coke. It would be on shelves along with Diet Coke, Coke Zero, and Classic Coke.

[Laura Cooper]

When I spoke to the CEO, he said, we are not leaving corn syrup. This is a line. He described it and I thought this was a good way to describe it as an and not or strategy.

[Annie Minoff]

A yes and yes. And so this is kind of a more limited approach that Coke is taking. But is there even enough US Grown sugar to pull that off?

[Laura Cooper]

Listen, the Coke CEO, James Quincy, told me they have enough sugar to make their line. And when I asked him, like, what do we do if we need more sugar? And he said, we grow more sugar. Right. But you know, this is a line. This is not getting rid of high fructose corn syrup.

[Annie Minoff]

So it sounds like for now kind of the dream of Coca Cola going back to real sugar is limited.

[Laura Cooper]

Yes, it's limited, but it's not a limited time thing. It's just a limited line. So you would have to find Coca Cola US cane sugar. It's coming out in the fall. We don't have an exact date. I think everyone was interested and I'm even more curious to see how well it sells.

[Annie Minoff]

All right, we're at the end of the interview. You're probably kind of thirsty. Which glass are you reaching for?

[Laura Cooper]

I don't know. I'm just gonna drink them both.

[Annie Minoff]

Alright, thanks Laura.

[Laura Cooper]

Thank you.

[Annie Minoff]

That's all for today. Thursday, July 31. The Journal is a co production of Spotify and the Wall Street Journal. Additional reporting in this episode by Andrea Peterson, Dean Seale and Patrick Thomas. Thanks for listening. See you tomorrow.