25.02.2025, 15:28
Mars and Mondelez to raise prices for sweets in Russia
Source: OREANDA-NEWS
OREANDA-NEWS Mars (Snickers, Twix, M&M's brands) and Mondelez (Alpen Gold, Milka, Picnic, Oreo) companies are raising selling prices for some products due to rising global prices for cocoa beans and other cocoa products and increased costs, the Russian representative offices of the companies told RIA Novosti. In retail chains of the Russian Federation, the increase will be slow, ACORT assured.
Earlier on Tuesday, Izvestia newspaper wrote that Mars and Mondelez candy manufacturers had warned retail chains of their intention to raise shipping prices by 5-19% from February to March due to higher prices of raw materials - cocoa beans and butter - on the stock exchange. The cost of cocoa bean futures was actively growing at the end of last year, in total in November and December the price increased by more than 1.5 times and for the first time rose above 12 thousand dollars per ton. In January and February, the cost is adjusted, now it is at the level of about 8,500 dollars per ton.
"We are indeed increasing prices for a part of the product range, which we have informed our trading partners about in advance. This is due to an unprecedented increase in costs and production costs due to record high exchange prices for cocoa beans and cocoa products, a significant increase in the cost of other ingredients that are important to us, rising logistical and operating costs, rising packaging costs and currency exchange rate volatility," the Mars press service in Russia told RIA Novosti..
Earlier on Tuesday, Izvestia newspaper wrote that Mars and Mondelez candy manufacturers had warned retail chains of their intention to raise shipping prices by 5-19% from February to March due to higher prices of raw materials - cocoa beans and butter - on the stock exchange. The cost of cocoa bean futures was actively growing at the end of last year, in total in November and December the price increased by more than 1.5 times and for the first time rose above 12 thousand dollars per ton. In January and February, the cost is adjusted, now it is at the level of about 8,500 dollars per ton.
"We are indeed increasing prices for a part of the product range, which we have informed our trading partners about in advance. This is due to an unprecedented increase in costs and production costs due to record high exchange prices for cocoa beans and cocoa products, a significant increase in the cost of other ingredients that are important to us, rising logistical and operating costs, rising packaging costs and currency exchange rate volatility," the Mars press service in Russia told RIA Novosti..
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