Hershey Raising Prices As Cocoa Costs Spike
Chocolate lovers may soon experience some sticker shock. The Hershey Company is reportedly raising prices across its candy portfolio.
Due to an “unprecedented” increase in the cost of cocoa, prices of the chocolate maker’s products will rise by a percentage roughly in the double-digits, a Hershey spokesperson said Tuesday, according to Reuters.
The increase accounts for both a higher list price and changes to the weight and amount of candy in its products’ packaging, Bloomberg News reported.
“This change is not related to tariffs or trade policies,” the spokesperson said in a statement. “It reflects the reality of rising ingredient costs, including the unprecedented cost of cocoa.”
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