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Hershey Bumps Up Candy Prices As Ingredient Prices Soar

July 15, 2014: 12:00 AM EST
Faced with soaring ingredients costs, Hershey Company has raised prices on certain of its candy lines by eight percent. The commodity cost inflation is taking a toll on the company’s bottom line: Hershey adjusted its 2014 profit forecast downward. Spot prices for candy ingredients such as cocoa, dairy and nuts have risen “meaningfully” since January, Hershey said. Cocoa futures reached a near-three-year high this month. The price hikes will affect instant consumable, multi-pack, packaged candy and grocery lines.
"Hershey increases prices as commodity costs rise", Reuters, July 15, 2014, © Thomson Reuters
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