Subject: Re: OT: Hershey
Barron's, '' Halloween might be a little spookier this year, largely because of rising prices for candy amid a global rise in the price of commodities used to make the treats and shrinking portion sizes by confectionery makers in an age of shrinkflation.
Candy prices are up 13% from October 2022, more than double the increase in overall grocery prices, according to market intelligence firm Datasembly. Prices have climbed even higher in Northeastern states such as Pennsylvania and Maryland.
Hot and dry weather in Mexico, where America gets much of its sugar, cut production by more than 15% this year, according to the Agriculture Department. Raw sugar futures on global markets have gained 50% from last year, and are trading at their highest level since 2011.
Heavy rains and a rot-causing disease have wreaked havoc on cocoa crops in West Africa, which grows two-thirds of the world's harvest. Cocoa futures have jumped 67% from last year, and recently hit $3,880 a metric ton, the most expensive since the 1970s.
The price of a king-size pack of Reese's Peanut Butter Cups went up 14% in 2022, a Kinder Joy Chocolate Egg Treat costs 16% more, and a 1.55-ounce Hershey's milk chocolate bar went up 15%, the Washington Post reported, citing commerce data platform Klover.
What's Next: Spending on candy is expected to reach $3.6 billion for Halloween, up 16% from last year, the National Retail Federation said. Snack companies including Nestlé, Chocoladefabriken Lindt & Spruengli, and Hershey have recently said they won't rule out the possibility of further price hikes.
'Evie Liu and Janet H. Cho''