The Hershey Company will increase its prices due to rising cocoa costs caused by global supply shortages. As one of the largest US chocolate companies, Hershey is implementing price hikes to cope with the “unprecedented” costs. The company’s sales reached over $11.2 billion last year and has not confirmed which specific products will be affected. Cocoa futures have risen nearly 170% in 2024, peaking at over $12,000 per metric ton, before adjusting to around $8,100 currently.
Source: https://www.newsweek.com/hershey-price-hike-explained-cocoa-prices-2102799