Hershey, the maker behind Reese’s Peanut Butter Cups and other fan favorites, is preparing to raise candy prices again, and this time the hikes are steep. The company confirmed it will implement double-digit price increases across its confection lineup, citing the soaring costs of cocoa.
A Hershey spokesperson explained that the move isn’t tied to tariffs or trade policies but is simply the result of rising ingredient prices. Cocoa, in particular, has seen historic surges over the past two years, hitting record highs late last year due to supply issues in Ghana and the Ivory Coast. While prices have recently eased to an eight-month low, they remain far higher than in previous years.
During Hershey’s May earnings call, CEO Michele Buck signaled that shoppers could expect price adjustments heading into the summer and fall. The company is tweaking pack sizes and pricing, especially for seasonal items, as it works to balance rising costs.
Consumers will likely see the higher prices reflected on store shelves throughout the second and third quarters. For candy lovers, that means favorite treats like Reese’s and Hershey’s bars could cost significantly more before the year ends.
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