Companies behind Hershey and Cadbury signal possible price hikes amid cocoa surge

is on the horizon, but the price of chocolate may leave a bitter aftertaste for some people leading up to the sweet holiday.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.

"Given where cocoa prices are, we will be using every tool in our toolbox, including pricing, as a way to manage the business," said Michele Buck, president and CEO of the Hershey Company, in a Mondelz International, the company behind Cadbury chocolates, announced the possibility of a similar price hike for its products in a fourth quarter

The price of cocoa had skyrocketed to around $8,000 per metric ton as of Monday, more than doubling the price of cocoa from one year ago, according toIt also noted that "old trees in these countries are producing with lower yields."

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Companies behind Hershey and Cadbury chocolate signal possible price hikes amid cocoa cost surgeThe price of cocoa has already more than doubled since last year.
Fonte: ABC - 🏆 471. / 51 Leggi di più »

How Companies Should Weigh In on a ControversyExecutives need guidance about managing their organizations’ engagement with societal issues—including hot-button topics such as gender, climate, and racial discrimination. Success in this realm does not mean avoiding public controversy or achieving unanimous support among key stakeholders, the authors write.
Fonte: HarvardBiz - 🏆 310. / 63 Leggi di più »

'Natural Asset Companies' and Utah's efforts to shut the door on themThe Utah treasurer says a land acquisition proposal poses a significant risk to rural economies.
Fonte: KSLcom - 🏆 549. / 51 Leggi di più »

The Transport Companies Leaving Fossil Fuels BehindHydrogen-powered planes, more fuel-efficient aircraft designs, and all-electric parcel delivery services are just some of the ways in which the transport sector is looking to decarbonize.
Fonte: WIREDScience - 🏆 385. / 55 Leggi di più »