--- title: Hoard the Chocolate! Hershey Set to Raise Prices | TIME description: The Hershey Company announced an eight percent jump in prices effective immediately for all its packaged candy. canonical: https://time.com/video/APwHl8pN/ og:title: Hoard the Chocolate! Hershey Set to Raise Prices og:description: The Hershey Company announced an eight percent jump in prices effective immediately for all its packaged candy. og:url: https://time.com/video/APwHl8pN/ og:image: https://cdn.jwplayer.com/v2/media/APwHl8pN/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Hoard the Chocolate! Hershey Set to Raise Prices twitter:description: The Hershey Company announced an eight percent jump in prices effective immediately for all its packaged candy. twitter:image: https://cdn.jwplayer.com/v2/media/APwHl8pN/poster.jpg?width=720 --- # Hoard the Chocolate! Hershey Set to Raise Prices > Sponsored content. Supplied in partnership with TIME. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Hoard the Chocolate! Hershey Set to Raise Prices [Watch (HLS stream): Hoard the Chocolate! Hershey Set to Raise Prices](https://cdn.jwplayer.com/manifests/APwHl8pN.m3u8) (1:40)  _Published 2014-07-16. The Hershey Company announced an eight percent jump in prices effective immediately for all its packaged candy._ --- Jul 27, 2023 5:00 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Hershey's doubles down with larger Hershey’s Kisses Deluxe](/video/uYr13c8K/) ### Hershey's doubles down with larger Hershey’s Kisses Deluxe [3 Companies Wall Street Loves Because They Raise Prices and Keep Customers](/video/HKyISV2T/) ### 3 Companies Wall Street Loves Because They Raise Prices and Keep Customers [Starbucks Raises Prices, Introduces Hand-Crafted Soda](/video/4wDIzLB2/) ### Starbucks Raises Prices, Introduces Hand-Crafted Soda --- ## Transcript You've got 4 weeks to hoard as much chocolate as possible. Say it ain't so ladies. Alright chocolate lovers. Better kiss chocolate deals good bye. So get ready to pay more for that chocolate bar. Before the prices from the world's largest chocolate maker rises a horrible, unforgivable, inexplicable. Inexcusable 8 %. Yes, the Hershey Company announced an 8 % jump in prices, effective immediately for all its packaged candy, though the company believes consumers won't see the change in price in their local grocer for another month. Plenty of time for that chocolate shopping spree. North America Hershey president, Michelle Buck said in a press release, key input costs have been volatile and remain at levels that are above historical averages. We expect significant commodity cost increases in 2015. Specifically, Hershey Execs say a rise in the cost of cocoa, dairy and nuts forced their hand. According to the Financial Times, cocoa prices have jumped to near three- year highs with cocoa up 40 % from a year ago. And cocoa butter, the key ingredient for chocolate, up more than 70 %. The jump from Hershey is pretty similar to a price hike from Starbucks last month. Tall and venti lattes and mocha drinks, up to 15 to 20 cents. Starbucks coffee, much like Hershey's chocolate, depends on a key ingredient. In this case, coffee beans, and over the past year, the price of that ingredient has skyrocketed. Coffee prices from Brazil, the world's biggest producer, have jumped more than 50 % since January. And here's some more bad news. Analysts expect the rise in price from Hershey to trigger similar announcements from all the chocolate rivals, making this as good a time as any to pick that diet back up. Thanks for watching, I'm Jamal Langers ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Hoard the Chocolate! 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