Hershey (HSY) Raises Prices Again
Hershey put our a press release announcing it will raise prices about 10% across its entire domestic product line. Hershey raised prices on average of 13% for one-third of their line back in January according to the WSJ.
“Market prices for ingredients such as cocoa, corn sweeteners, sugar and peanuts are up 20 to 45 percent since the beginning of the year. As such, in 2009 we expect our commodity cost increase to be more than double the 2008 increase”
2009′s cost increase to double 2008′s increase? Woah.