Hershey raises candy prices due to “unprecedented” cocoa costs: Report

Chocolate enthusiasts may experience sticker shocks soon. The Hershey Company reportedly is increasing prices across its candy portfolio.

Chocolate makers’ prices due to “unprecedented” increase in cocoa costs Products will rise A Hershey spokesperson said Tuesday, almost in double digits. To Reuters.

The increase accounts for both higher priced prices and changes in the weight and quantity of candy in the product packaging. Bloomberg News It has been reported.

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“The changes have no relation to tariffs or trade policies,” the spokesman said in a statement. “It reflects the reality of rising ingredient costs. Unprecedented Costs Cocoa’s. ”

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Over the past two years, cocoa costs have increased significantly due to the shortage of supply in ivory coasts and Ghana. In May, Hershey CEO Michelle Buck said The chocolate giant According to Reuters, they were working to make adjustments to pack sizes and pricing as a way to absorb the increased costs.

According to Reuters, Hershey, who is in talks with retail partners, declined to share details about the new pricing.

Chocolate lovers are cutting back on sweet snack purchases amid rising prices

News will be in a few weeks Wendy’s announcement CEO Kirk Tanner will step down from his role in the fast food restaurant chain to become CEO of Hershey Company.

He starts his new role in Chocolate Making Company On August 18th, separate announcements from the two companies at the time.

Pennsylvania-based Hershey Company owns more than 90 brands, including Lees’ Peanut Butter Cup, Kit Cat, and Milk Dad, according to its website.

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Hershey Company did not immediately respond to a request for comment on Fox News Digital.