Mondelez Sees Chocolate Prices Rising Up to 50% on Cocoa Surge
- Hershey also said it’s closely monitoring cocoa costs
- Both companies mentioned the commodity in presentations
Chocolate’s pricing stands in contrast with other consumer goods.
Photographer: Hannah Reyes Morales/BloombergThis article is for subscribers only.
Executives from Hershey Co. and Mondelez International Inc. signaled more price increases may be coming as the chocolate makers navigate a sustained rise in cocoa prices.
“We have taken and are taking aggressive action to manage the commodity environment that we’re in,” Hershey Chief Financial Officer Steve Voskuil said during a presentation at the Consumer Analyst Group of New York conference on Tuesday.