Mars to raise chocolate prices 7 pct, following Hershey

Wed Jul 23, 2014 4:15pm EDT
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NEW YORK, July 23 (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.

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)