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Oh NO! Not This…

17 Aug

Hershey Co. said Friday it plans to raise prices on its products by an average of 11 percent as it tries to stem the impact of soaring commodities costs, and trimmed its projections for 2008 and 2009.

The candy company known for its chocolate bars bite-sized Kisses said the immediate increase was necessary to offset “significant increases” in the cost of raw materials such as sugar, cocoa and peanuts — up as much as 45 percent since the start of the year — as well as the growing cost of fuel, utilities and transportation.

“Commodity costs have been volatile over the last several years and continue to remain at levels that are well above historical averages,” Hershey’s President and Chief Executive David J. West said in a statement.

So the prices ramp up on oil, gasoline, groceries, services, and now chocolate? What in god’s name is going on? Sheeze, you’d almost begin to think we were headed for a recession

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4 Comments

Posted by on August 17, 2008 in From the Kitchen, Opinion

 

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4 responses to “Oh NO! Not This…

  1. Kat

    August 18, 2008 at 11:19 AM

    This is an outrage and I am going to protest and only buy higher end chocolates from now on. LOL.. Michael fav chocolate is hershey’s. He will be saddened.

     
  2. Tom

    August 18, 2008 at 1:32 PM

    No worries, just the sign of the times. Chocolate will follow the trend of rising prices. Other food company’s are trying other methods of savings such as smaller packaging. Kat- it isn’t only Hershey’s that is affected. It’s actually all chocolate. So your high end chocolate is gonna be more high end. I guess this will make it that much more special.:)

     
  3. mxsive

    August 19, 2008 at 9:39 PM

    It does not surprise me much… After all the costs of ingredients have raised along with all methods of transportation to get them and distribute, etc.

    In reality it is about time, most other fine chocolates have been over priced for years. Hershey’s has been able to remember their customers by charging these high rates. Basically they will remain the same, raise the price and still not go overboard like it’s competitors.
    Have a “KISS” and a smile =)

     
  4. Doerr Number 51/2

    August 20, 2008 at 9:36 PM

    Michael, I have a whole pack of Hershey’s left over from camping. Your welcome to have them! I’ll bring on the kid’s birthday party day.

     

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