Start Stockpiling Hershey’s Bars, Because Chocolate Prices Are Going Up
Hershey announced last week that its prices would increase due to a rise in the cost of chocolate ingredients. Very soon, those amazing Hershey’s Cookies ‘n’ Creme bars (or am I the only one who likes those?) will now cost eight percent more, and so will every other treat the company makes. Other candy companies will probably follow suit. The price increase is effective immediately, and it’s time to stock up on chocolate in case the price goes up even higher in the future.
By sales, Hershey is the top candy maker in the US, and it also sells 40 percent of dark chocolate in the country, so we’re pretty much at its mercy to cut us a deal on our chocolate fix. The rise in the price of ingredients can be attributed to a growing chocolate market in Asia, and chocolate consumption is still rising in the US, which makes the demand that much greater. Researchers have predicted that there could be a one million-ton international cocoa bean deficit by 2020. Halloween is going to be a struggle this year. [Quartz]