The cost of your favorite chocolate candy bar could be on the rise as the nation’s largest chocolatier confirmed Tuesday it is raising prices soon. The Hershey Company says its chocolate products will see a “low double-digit” price increase in the coming weeks due to the rising cost of cocoa around the world, CBS News reports.
The price change will impact several products in the Hershey’s portfolio, which includes Hershey Kisses, KitKat, Reese’s and York. A spokesperson for Hershey’s said price increases typically take around 90 days to take effect.
A global shortage is driving the price increases, with the commodity’s cost up 73% from just five years ago. CBS News reports the majority of the world’s cocoa supply comes from Ghana and the Ivory Coast. Unfavorable weather has led to a portion of the crop dying, while a lack of investment in cocoa farms is also contributing to the problem.
The chocolate brand made it clear the price increase is not tied to President Donald Trump’s tariff policies that have been blamed for price increases in other industries.
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