Harshe, Pa. ,Whtm) – Some products on the candy corridor are going to be slightly more expensive.
Harshe company has confirmed that it plans to increase prices in its portfolio, blaming the increase in the rising costs of the material – especially cocoa.
“We are committed to loving Treat consumers while investing in making our products and experiences even better,” Harshe spokesperson said in a statement received by Nexstar. “To support our approach, we are making a price adjustment with our retail customers. This change is not related to tariffs or trade policies. It reflects the reality of the increasing component cost including the unprecedented cost of cocoa.”
According to a spokesperson, the Hershe Company, whose brands include Reese, Almond Joy and Kit Cat, have “worked hard to absorb these costs” and placed most of its offerings under $ 4.
The Associated Press, citing joy, said that the price change is expected to be due to this decline, the average growth is in a percentage of double digits. In some cases, the size of the pack according to the AP will simply be smaller.
Coco prices have exceeded double in the last two years due to bad weather And disease In west AfricaWhich supplies more than 70 percent of the world’s cocoa.
Coco futures, who are bound to contracts for a specific amount of cocoa, stood at $ 7,380 per metric tons on Wednesday, according to the International Cocoa organization, which releases daily average prices in London and New York.
It is below the December peak of $ 11,984, but it is still 121 percent more than two years ago.
And the situation is unstable. According to the International Coco Organization, prices rose in early June over concerns about production in Ivory Coast, but reduced optimistic forecasts for production in Ghana and Latin America. They rose again in late June after heavy rains in West Africa, causing the outbreak of diseases that damaged crops.
It is not surprising that Harsha is not only a candy company that increases prices.
On Tuesday, Swiss chocolateer Lindt said that its prices rose 15.8 percent in the first half of this year. The company said that it is capable of offering some high cost of cocoa with long -term contracts, but consumers had to pass most of it.
Cloetta,A Swedish Confectionery CompanyLast week, investors told that it increased the prices of chocolate in the second quarter. AndShelterIn spring, American prices increased for products such as toll house chocolate chips.
Earlier this month, nine members of the Republican Congress delegation of Pennsylvania also sent a letter to the office of the United States business representative. End of tariff on incomplete cocoa and chocolate imports,
MPs cited the rising cost of cocoa products, and lack of a domestic option. Coco trees cannot grow in the United States.
The law said, “These imported products fuel a prosperous domestic chocolate manufacturing industry, which employs tens of thousands of Americans in this country, many of them are in Pennsylvania.”
However, Harshe has insisted that the increase in the price of its candies will not be especially applied to the products packed for Halloween. A representative for Harshe was not immediately available to make further comments on Halloween pricing.
The Associated Press contributed to this report.
