As the cost of chocolate reaches "unprecedented" heights, The Hershey Co. and other chocolate providers are facing price hikes in the coming months that will impact consumers of a variety of brands, according to a new report from the Associated Press.
“This change is not related to tariffs or trade policies," Hershey stressed to the publication. "It reflects the reality of rising ingredient costs including the unprecedented cost of cocoa.”
Earlier this week, Lindt confirmed that it had raised prices by 15.8% so far this year. While new long-term contracts helped offset some of the rising costs, much of it was passed on to consumers.
Cloetta, another Swedish company, and Nestle also saw increasing product prices throughout the year so far.
Prices continue to fluctuate in a "volatile" manner, the publication wrote, with Cloetta Chief Financial Officer Frans Ryden recently telling investors that it's "almost a bit dangerous to comment on this because it’s changing so fast,” thanks to changes in the weather, production forecasts and more.
While tariffs have not come into play yet, there are also concerns that prices may be further impacted by their implementation. The National Confectioners Association has requested that the Trump administration protect cocoa from tariffs.
Related: Peacock Ruffles Feathers With Big Changes to Come: 'This is Madness'
Hence then, the article about volatile chocolate prices soar toward record highs was published today ( ) and is available on Parade ( Saudi Arabia ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( 'Volatile' Chocolate Prices Soar Toward Record Highs )
Also on site :