{"id":25028,"date":"2024-03-19T05:06:21","date_gmt":"2024-03-19T10:06:21","guid":{"rendered":"https:\/\/ustower.net\/?p=25028"},"modified":"2024-03-19T05:06:25","modified_gmt":"2024-03-19T10:06:25","slug":"companies-behind-hershey-and-cadbury-chocolate-signal-possible-price-hikes-amid-cocoa-cost-surge","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=25028","title":{"rendered":"Companies behind Hershey and Cadbury chocolate signal possible price hikes amid cocoa cost surge"},"content":{"rendered":"\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.goodmorningamerica.com\/food\/story\/true-family-recipes-end-easter-table-98377671\"><u>Easter<\/u><\/a>&nbsp;is on the horizon, but the price of chocolate may leave a bitter aftertaste for some people leading up to the sweet holiday.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Two popular&nbsp;<a href=\"https:\/\/www.goodmorningamerica.com\/food\/story\/new-viral-crookie-food-trend-croissant-filled-chocolate-108011199\"><u>chocolate brands<\/u><\/a>&nbsp;recently indicated they may raise prices on products again due to the rising cost of cocoa, which has gone up following torrential rain in major cocoa-growing regions that affected production.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Executives from Hershey and Cadbury each pointed to possible additional price hikes in recent earning calls, identifying rising cocoa costs as a main culprit behind the increases.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">&#8220;Given where cocoa prices are, we will be using every tool in our toolbox, including pricing, as a way to manage the business,&#8221; said Michele Buck, president and CEO of the Hershey Company, in a&nbsp;<a href=\"https:\/\/hershey.gcs-web.com\/static-files\/09b22392-3d09-4290-a866-07a2869b40ab\"><u>Feb. 8 earnings call<\/u><\/a>.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Hershey has already raised prices on some grocery and food service items this year, with the latest increase last month, according to executives.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Mondel\u0113z International, the company behind Cadbury chocolates, announced the possibility of a similar price hike for its products in a fourth quarter&nbsp;<a href=\"https:\/\/edge.media-server.com\/mmc\/p\/uf6etdb3\"><u>earnings call<\/u><\/a>&nbsp;in late January.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Dirk Van de Put, CEO of Mondel\u0113z International, called rising cocoa prices one of the &#8220;issues&#8221; on the company&#8217;s mind and identified the &#8220;need to price as needed.&#8221;<\/p>\n\n\n\n<p class=\"has-medium-font-size\">According to Van de Put, the price of Mondel\u0113z chocolate increased 12% to 15% in Europe last year.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/abcnews.go.com\/GMA\/Food\/companies-hershey-cadbury-chocolate-signal-price-hikes-amid\/story?id=108248601\">Abcnews<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Easter&nbsp;is on the horizon, but the price of chocolate may leave a bitter aftertaste for some people leading up to the sweet holiday. Two popular&nbsp;chocolate brands&nbsp;recently indicated they may raise prices on products again due to the rising cost of cocoa, which has gone up following torrential rain in major cocoa-growing regions that affected production. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[27279,27278,27280,3129,4007],"class_list":["post-25028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-chocolate-brands","tag-cocoa","tag-product-prices","tag-rising-costs","tag-rising-prices"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25028"}],"version-history":[{"count":2,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25028\/revisions"}],"predecessor-version":[{"id":25031,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25028\/revisions\/25031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/25030"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}