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Mars to raise chocolate prices 7 percent, following Hershey

Published 07/23/2014, 04:37 PM
Updated 07/23/2014, 04:40 PM
Mars to raise chocolate prices 7 percent, following Hershey

NEW YORK (Reuters) - Mars Chocolate North America said on Wednesday that it will raise its prices by an average of 7 percent "to offset rising costs," marking its first increase in three years.

© Reuters. Packets of M&M's chocolates are seen at the production line of candy and chocolate maker Mars Chocolate France's plant in Haguenau

The price hike by Mars, which did not give an effective date, follows Hershey Co, the No. 1 candy maker in the United States, which on July 15 raised its chocolate prices about 8 percent due to soaring commodity costs.

(Reporting by Marcy Nicholson; Editing by David Gregorio)

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