Hershey to raise chocolate prices as cocoa costs remain high
has told retailers it will be taking a double-digit price increase on average across its confection portfolio due to a surge in costs of cocoa, a company spokesperson said on Tuesday.
The maker of
Reese's Peanut Butter Cups
declined to comment on the specifics of the pricing action as discussions with its retail partners are underway.
"This change is not related to
tariffs
or
trade policies
. It reflects the reality of rising ingredient costs including the unprecedented cost of cocoa," the spokesperson said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Villas For Sale in Dubai Might Surprise You
Villas in Dubai | Search Ads
Get Info
Undo
Cocoa prices
have risen sharply in the last two years and touched a record in December due to supply problems in Ghana and the Ivory Coast. Since then, the price of cocoa has fallen to an eight-month low, though it remains above levels seen earlier in the decade.
During Hershey's quarterly earnings call in May, CEO Michele Buck said the company was working to absorb high input costs by adjusting the pack size and pricing together, especially on seasonal items.
Live Events
These actions would lead to higher prices in the second and third quarter, she had said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
India deploys warships to Southeast Asia to boost military ties
NEW DELHI: As part of the Navy's ongoing operational deployment to Southeast Asia with an eye firmly on China's aggressive behaviour in the Indo-Pacific, three Indian warships have now reached the Philippines while another is exercising with the Singapore Navy. The deployments of stealth frigate INS Satpura for the bilateral 'Simbex' exercise with the Singapore Navy as well as guided-missile destroyer INS Delhi, anti-submarine warfare corvette INS Kiltan and fleet tanker INS Shakti to Manila 'is a testimony to the Indian Navy's commitment to strengthen partnerships in the Indo-Pacific', officers said. Leading the three warships in Manila, Eastern Fleet commander Rear Admiral Susheel Menon said India and the Philippines shared the commitment towards maintaining stability and enhancing maritime security in the region, emphasizing the importance of such deployments in promoting understanding, trust and cooperation among friendly maritime forces. The warships will undertake a bilateral naval exercise with the Philippines, which will focus on joint manoeuvres and communication protocols to improve preparedness, build mutual trust and strengthen operational synergy in the maritime domain. INS Satpura, in turn, is participating in the 32nd edition of the Simbex exercise, marking yet another chapter in the strong and enduring maritime partnership between the Indian Navy and the Republic of Singapore Navy (RSN). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo 'The exercise involves execution of a comprehensive array of advanced naval operations. These include air defence exercises, sross-deck helicopter operations, precision targeting with surface and aerial platforms, complex maneuvering drills and VBSS (visit, board, search, and seizure) operations,' an officer said. After the $375 million contract to supply three anti-ship coastal batteries of the BrahMos supersonic cruise missiles to the Philippines in Jan 2022, India has also stepped-up discussions on arms exports to other Asean countries like Indonesia and Vietnam. Apart from the Brahmos missiles, which have been developed jointly with Russia, India also plans to sell the indigenous Akash air defence missile systems, which can intercept hostile aircraft, helicopters, drones and subsonic cruise missiles at a range of 25-km, to countries like Philippines, Indonesia and Vietnam.
Time of India
an hour ago
- Time of India
Federal Bank net profit dips 14.6% to Rs 861 crore on MFI provisions
MUMBAI: A sharp increase in provisions pulled down quarterly profit at Federal Bank, India's sixth-largest private lender, even as asset quality and core earnings improved. Net profit declined 14.6% to Rs 861.8 crore in the quarter ended June 30, 2025, from Rs 1,009.5 crore a year earlier. The fall in profit was driven by a 177.4% surge in provisions and contingencies, excluding tax, which rose to Rs 400.2 crore from Rs 144.3 crore in the year-ago quarter. The rise in provisioning, largely linked to the agri and microfinance portfolios, weighed on earnings despite stronger performance in the bank's core lending operations. 'We have had a strong quarter in terms of operational performance,' said managing director and CEO KVS Manian. 'Besides the provisions for agri and microfinance sector, there has been no impact on asset quality. In the MFI segment, we have seen the peak of the slippage and expect that it will bottom out this quarter.' Manian also said that expectations on further rate cuts by the RBI were divided, and that any reduction would affect earnings. Operating profit rose 3.7% to Rs 1,556.3 crore from Rs 1,500.9 crore in the same quarter last year, backed by growth in the bank's lending business. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo Net interest income increased 2% to Rs 2,336.8 crore, as interest earned grew 5.6% to Rs 6,686.6 crore, while interest expended rose faster at 7.7% to Rs 4,349.8 crore. The squeeze on spreads limited the pace of growth in core interest income. The bank's loan book expanded steadily, with net advances rising 9.2% year-on-year to Rs 2,41,204.3 crore. Retail loans rose 15.6% to Rs 81,046.5 crore. Deposits grew 8% to Rs 2,87,436.3 crore from Rs 2,66,064.7 crore in the year-ago quarter. Asset quality improved, with the gross NPA ratio falling to 1.91% from 2.11%, and the net NPA ratio declining to 0.48% from 0.60%. The capital adequacy ratio under Basel III rose to 16.03% from 15.57%, supported by growth in internal accruals. According to the bank's unaudited standalone results, provisioning continued to be the main drag on profitability in the June quarter. However, growth in loans and deposits, coupled with cleaner asset quality, indicated operational strength. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Time of India
an hour ago
- Time of India
Food sector has huge growth potential in eastern India, say industry leaders
The food industry has huge growth potential in eastern India, industry leaders said on Saturday, noting the existing challenges in the region. Speaking at the inaugural session of International Kolkata Foodtech 2025, they said that while the east leads in the bakery segment , it continues to lag in the ice cream category. Explore courses from Top Institutes in Please select course: Select a Course Category Others Technology CXO Project Management healthcare Digital Marketing Finance MCA Data Science Leadership Degree Management Design Thinking Artificial Intelligence Product Management PGDM Data Science MBA Operations Management Data Analytics Healthcare others Public Policy Cybersecurity Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details Dream Bake CEO Nemisha Ghia called for the adoption of sustainable packaging, and urged stakeholders to explore how the region could take a leading position in the industry. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Treatment That Might Help You Against Knee Pain Knee pain | search ads Find Now Undo Bhikharam Chandmal Director Ashish Agarwal noted that although eastern India is a major consumer of sweets and namkeen , it is yet to emerge as a manufacturing hub . Indian Ice Cream Manufacturers Association vice president Anuvrat Pabrai said there is significant growth potential in the ice cream market in the region. Live Events "While the region currently accounts for only 15 per cent of the country's total ice cream consumption, compared to 35 per cent in the west and 25 per cent each in the north and south, the low base is viewed as an opportunity for rapid expansion," he said. The B2B exhibition , being held at the Biswa Bangla Milan Mela Complex in Kolkata, will continue till August 4.
