This year, an increasing number of the world’s top candy companies have been sounding the alarm about skyrocketing cocoa prices, leading them to hike candy bar prices. The real culprit here isn’t as much corporate greed but rather adverse weather conditions, such as drought in West Africa, which has decimated cocoa harvests and caused worldwide supply concerns. No matter how often politicians tell their constituents that voting for them will bring down overall inflation, we find that somewhat hard to believe, especially for food, as it will remain sticky in the years ahead.
Cadbury Australia is the latest confectionery company to warn about rising candy bar prices due to high cocoa prices. It said Freddo Frogs and Caramello Koalas prices will now double.
“Due to the record global price of cocoa and increased input costs, we have adjusted the RRP from $1 to $2, the first price change in over a decade,” Cadbury wrote in an Instagram statement. […]
– Read More: www.zerohedge.com
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