‘This change is not related to tariffs or trade policies,’ the president of US confection said in a statement.
Hershey Co. is raising prices on its candy due to historically high cocoa costs.
The Pennsylvania-based maker of Hershey’s chocolates and Reese’s Peanut Butter Cups told its retailers last week that it would be implementing a roughly double-digit price increase, company officials said Tuesday. That increase reflects a higher list price as well as adjustments to the weight and number of candies in a bag, a practice known as shrinkflation.
“This change is not related to tariffs or trade policies,” Andrew Archambault, president of US confection at Hershey, said in a statement.
