- Ghana and Ivory Coast are contributing to global cocoa production deficit due to shared supply chain challenges.
- Future recovery in the cocoa industry hinges on successfully managing the increasing costs associated with production and global market pressures.
Major chocolate companies, including The Hershey Company and Mondelez International, are raising prices due to rising cocoa costs and new EU mandates against deforestation.
3 reports, 1 independent
Updated Jul 23
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What happened
Major chocolate companies, including The Hershey Company and Mondelez International, are raising prices due to rising cocoa costs and new EU mandates against deforestation.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Mondelez International seeks a delay to allow the EU Deforestation Regulation (EUDR) to become workable.Sub-event
Chocolate giants pass on cost increases while scientists seek sustainable solutions.1 source
- Mondelez and Hershey are distancing themselves from backing EU laws amid high cocoa costs.
Keep exploring
Part of
Future recovery in the cocoa industry hinges on successfully managing the increasing costs associated with production and global market pressures.Also in this story
- Due to volatile cocoa markets, companies like Hershey Co. and Aare Lindt are passing on cost increases to consumers.
- Mondelez International and Michele Buck are raising prices to offset rising cocoa costs.
- Poor harvests in West Africa caused a cocoa shortage, impacting the global supply chain.
The entities involved
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The Hershey Company
American corporation
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Mondelez International
American multinational confectionery, food and beverage conglomerate
Related events
Coverage
Newest first; wire copies grouped- FortuneChocolate cravings are about to be costlier as Hershey’s confirms price increases are on the way Hershey is raising chocolate prices. That will make the cost of a candy bar up to 20% higher at retail
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