Heartland businesses see price hike in chocolate - News, Weather, Sports, Toledo, OH

Heartland businesses see price hike in chocolate

Hershey announced it would increase its prices by 8 percent. Hershey announced it would increase its prices by 8 percent.
CAPE GIRARDEAU, MO (KFVS) - The Hershey Company announced Tuesday it is hiking its chocolate prices for the first time in three years.

The overall price increase, effective immediately, would be about 8 percent. It would affect all of the company's instant consumable, multi-pack, packaged candy and grocery lines.

The company said the price hike is all because of rising commodity costs for ingredients like cocoa, dairy and nuts.

The price for cocoa has been on the rise because of global demand for the product.

The demand has driven prices for cocoa up by 9 percent. The average price per unit of chocolate candy in the U.S. is about $1.85.

According to Mary Gentry, an employee at The Corner Grocery store in Cape Girardeau, the rise in cocoa prices and other ingredients could put them in a sticky situation. 

The Corner Grocery Store offers fresh chocolate treats like fudge, Kentucky Bourbon Ball and chocolate turtles.

"If it continues to go up, it depends on how high it goes, we would have to increase our prices but right now we're trying to stay at the same price to make it appealing to more people," Mary said.

Robert Gentry, the owner of the grocery store, said he hopes to keep prices where they are at, since they are the only store in the downtown Cape Girardeau.

Mary said it seems like the price of everything is going up.

"It either get's smaller, the amount that you're getting or either you're paying more for it," Mary said.

However, Robert said they want to keep their products larger than what you might get from other stores.

Robert doesn't buy his chocolate from Hershey. Those buying directly from the company, though, can expect to see the increase of price during the four-week period through August 12, 2014.

Copyright 2014 KFVS. All rights reserved.
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