Hershey to Raise Chocolate Prices Amid Soaring Cocoa Costs

While Hershey didn’t share exactly when the new prices will take effect, the company acknowledged that inflation and crop issues have impacted the industry

Citing Rising Cost Of Ingredients, Hershey's Raises Prices 8 Percent — Source: Scott Olson / Getty

Hershey is planning to raise prices across its chocolate lineup as cocoa costs continue to climb, the company announced Tuesday.

The candy giant known for Reese’s, Kit Kat, and Hershey’s Kisses told retailers to expect an average price hike in the “lower double-digit” range across its confectionery products. The move comes in response to a sharp rise in cocoa prices over the past two years, according to multiple reports.

“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, according CNBC.

While Hershey didn’t share exactly when the new prices will take effect, the company acknowledged that inflation and crop issues in West Africa have significantly impacted the industry. Cocoa prices peaked near $13,000 per metric ton in late 2024 and remain well above average.

Source: CNBC