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article imageHershey increases chocolate prices after 3 years

By Walter McDaniel     Jul 16, 2014 in Food
Fans of Hershey products are going to have to pay a bit more for their favorite sugary confections. An average raise in price of 8% just happened. The cost had previously stayed at the same level since 2011.
Raises in price have recently been a trend in the industry. Many are wondering what the reasoning for this latest event is. President Michele G. Buck explained their reasoning in a write-up by the Consumerist: Commodity spot prices for ingredients such as cocoa, dairy and nuts have increased meaningfully since the beginning of the year. Given these trends, we expect significant commodity cost increases in 2015.
It is true that cocoa prices have risen over time. Even dairy has seen an upswing in recent months. Even nuts have shown rising numbers as well so that statement checks out as well.
Hershey is an international powerhouse in many markets of food. They have major branches from Canada to Japan but export their treats to many more areas than that. This price raise should have an impact on people across the world.
The Hershey family of products actually contains a variety of different items and smaller companies. Some believe that the price increase was brought on since competitors such as Nestle raised prices.
Those in the culinary community had already been discussing this issue for some time. The "Fair Chocolate" movement not only deals with prices but also working conditions for those who are farming the cocoa we all use. Reports of child workers are just one issue that concerns many chefs.
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