Significant increases in chocolate products will be seen by consumers in the coming period.
Already, Alkis H. Hadjikyriacos (Frou Frou Biscuits) Public Ltd announced to the Cyprus Stock Exchange that as of April 1, significant increases will be implemented on its chocolate products.
As the company informs, it is considering various alternative measures “to mitigate the impacts of the increases resulting from these unprecedented changes in the prices of basic raw materials.”
Based on the data available to date, the group intends initially to raise the prices of its chocolate products by around 20-30%, “temporarily absorbing a significant portion of the total increase in the cost of raw materials, and will reassess the entire situation next August, depending on the movement of cocoa prices in the international market.”
However, it notes that if cocoa and chocolate prices are restored to new lower levels, “the Group intends to make similar modifications and reductions affecting the produced products.”
