Hershey raises candy prices by a low double-digit percentage due to high cocoa costs.

Hershey, the chocolate maker, plans to raise its candy prices by a low double-digit percentage due to soaring cocoa costs. Cocoa prices have risen significantly, with Ghana and the Ivory Coast, which produce almost 60% of the world's cocoa, experiencing poor harvests due to climate-related weather conditions. The price hike is not related to tariffs or trade policies, and Hershey will also use "shrinkflation," reducing product amounts in packages to help offset costs.