Hershey to raise candy prices
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Hershey is expected to raise its prices for retail customers by double digits. Prices will generally increase between the low teens and 20 percent, The Wall Street Journal reported Tuesday, citing a company official. But the WSJ reports three-quarters of the candy maker’s products should continue to cost $4 or less.
Rising ingredient costs prompted Hershey to raise prices on chocolate products, and the company noted the change is unrelated to tariffs or trade policies.
The Swiss chocolatier turned more cautious on its full-year profitability outlook as cocoa prices remained at historically high levels.
ICE NY cocoa (CCU25 ) today is down -17 (-0.21%), and September ICE London cocoa #7 (CAU25 ) is up +90 (+1.72%). Cocoa prices today are mixed. NY cocoa gave up an early advance today and turned lower,