The CEO of Barry Callebaut announced that chocolate prices will rise between 15 and 18 percent. Reuters reports that Patrick de Maeseneire told the Handelszeitung in Switzerland that raw materials contribute about 25 percent to the total price of a 100 gram chocolate bar and that cocoa, in turn, represents half of that. Since cocoa prices have doubled over the past year and other commodities like milk and sugar have increased in price as well, Mr. de Maeseneire reasoned that a 15-18 percent price increase is warranted.
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