US firm expects rising costs to hit profits and sales as consumers cut spending on treats
The US chocolatier Hershey has warned on profits and sales after a sharp increase in the cost of cocoa to record levels pushed up the price of chocolate, hitting cash-strapped consumers in the pocket.
Global cocoa prices hit a new peak of $5,874 (£4,655) a ton on Thursday in New York as dry weather continued to affect crops in west Africa, with poor harvests driving up prices in the region, which produces the majority of global supply.
About Author
More Stories
Chinese fishing fleets using North Korean forced labour in potential breach of sanctions, report claims
Qantas posts $1.39bn profit as holidaymakers flock to Jetstar
#AltGov: the secret network of federal workers resisting Doge from the inside