{"id":3399,"date":"2024-02-28T14:35:14","date_gmt":"2024-02-28T12:35:14","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=3399"},"modified":"2024-02-28T14:35:14","modified_gmt":"2024-02-28T12:35:14","slug":"rising-cocoa-price-makes-chocolate-products-dearer","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=3399","title":{"rendered":"Rising cocoa price makes chocolate products dearer"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/02\/rising-cocoa-price-makes-chocolate-products-dearer.jpg\" class=\"ff-og-image-inserted\">Alkis H. Hadjikyriakos Public Ltd, which makes the Frou Frou brand biscuits has announced <strong>increases in the prices of its products containing chocolate by 20 to 30 percent.<\/strong><\/p>\n<p>The higher prices that will come into effect on April 1 are the direct result of the rising cost of cocoa which <strong>has increased by a staggering 153.55 per cent in the last year.<\/strong>In a letter to the Cyprus Stock Exchage, in which the company is listed, the Managing Director of the company, Alkis Hadjikyriakos said the company was facing a significant rise in global raw material costs, which could negatively impact chocolate sales this year.\u201cThe <strong>galloping global increase in the price of cocoa and chocolate forces us to adjust our prices<\/strong>,\u201d Hadjikyriacos wrote in the letter and warned that this could affect the company\u2019s revenue. The higher prices \u201ccould negatively affect the consumption of all chocolate products in the market,\u201d he wrote.The company will not be passing the total cost increase to consumers for now. \u201cWe are absorbing a significant percentage of the overall increase in the cost of raw materials,\u201d Hadjikyriacos said. The company would reassess the situation in August, in accordance with the movement of cocoa prices on the international market.The price adjustments will not affect all the company\u2019s products. The prices of products not containing cocoa or chocolate, such as Frou-Frou biscuits, Golden Choice cereals, Bakandy\u2019s bakery products, Handy\u2019s snacks, and Mon Ami desserts will not be affected in 2024.Prices of the Group\u2019s imported chocolate products will also rise reflecting the higher prices charged by suppliers. Hadjikyriacos assured that when international cocoa and chocolate prices fall, the company would adjust prices accordingly.Follow the<br \/>\nCyprus Mail  on Google News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alkis H. Hadjikyriakos Public Ltd, the maker of Frou Frou brand biscuits, has announced an increase in the prices of its chocolate-containing products by 20 to 30 percent due to a 153.55 percent rise in cocoa costs over the last year. This price adjustment, effective from April 1, is a response to the significant increase in global raw material costs. The company will absorb a portion of the cost increase and reassess the situation in August. The price adjustments will not affect products without cocoa or chocolate, and prices of imported chocolate products will also increase. The company plans to adjust prices in response to future changes in international cocoa and chocolate prices.<\/p>\n","protected":false},"author":3,"featured_media":3400,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[186,357,3,356,250,187,380],"class_list":["post-3399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-business","tag-businesstop","tag-cyprus","tag-cyprus-business-news","tag-google","tag-international","tag-us"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rising cocoa price makes chocolate products dearer<\/title>\n<meta name=\"description\" content=\"chocolate prices. rising cost of cocoa, price increases, chocolate 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