Mars has no plans to raise its chocolate prices despite experiencing pressures on cocoa market, company executive says

LOS ANGELES , June 18, 2014 () – Although Mars Inc. said it is experiencing the same pressures on the cocoa market as Nestle SA, it currently has no plans to raise its chocolate prices, Confectionery News reported June 18.

“I'm not aware of any price increases that are looming and those are usually independent decisions from the buying of the cocoa or any other raw material,” said Andy Harner, global cocoa vice president at Mars Chocolate.

This past April, Nestle said that it would increase its confectionery prices after it complained that higher commodity prices, particularly for cocoa, had contributed to a 13% slump in sales for its confectionery category in the first quarter.

The primary source of this article is Confectionery News, Montpellier, France, on June 18, 2014. Click here to read the primary source's full version of the article.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.