Black Women : PRICE OF CHOCOLATE GOING UP

Discussion in 'Black Women - Mothers - Sisters - Daughters' started by Kemetstry, Jul 25, 2014.

  1. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

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    Hershey warns of sticker shock from chocolate price hike
    July 24, 2014 2:45 PM ET
    By By Marcy Nicholson

    NEW YORK (Reuters) - Hershey Co, one of the world's best known names in chocolate, expects its first price hike in three years to crimp short term sales, but over the long haul the popularity of chocolate will prevail, the company's chief executive said on Thursday.
    President and CEO John Bilbrey said the 120-year-old maker of Hershey Kisses and Reese's Peanut Butter Cups will be particularly alert to any reduction in sales caused by the increase, which averaged 8 percent, among low income consumers.
    Bilbrey told analysts on a conference call to discuss second-quarter financial results that in the past many consumers adjusted to higher prices "over time," but he said more expensive chocolate would lower volume for the rest of the year, primarily in the fourth quarter and into 2015.
    Hershey announced its price increase on July 15, saying it was in response to soaring cocoa and dairy prices. The hike comes at a critical time for candy makers, as some of the world's best known brands are fighting for U.S. consumers in a shrinking market.
    One of Hershey's biggest competitors Mars Chocolate North America said on Wednesday it was raising prices 7 percent.
    Three months ago, Swiss-based Nestle SA, the world's biggest confectionery business, warned of price changes.
    But Swiss chocolate maker Lindt & Spruengli has said its main priority was to gain market share globally by absorbing some commodity price increases.
    U.S. demand for chocolate has declined annually since 2006, with the exception of 2013 when there was slight growth, according to data from Euromonitor International. In contrast, world consumption has increased.
    This is in part because of the increasing popularity of premium products and bite-size chocolates that weigh less than many chocolate bars. Global demand is increasing and there are reports that prices are getting higher because cocoa farmers are not going to be able to increase production enough to meet the demand for chocolate.
    In its results, Hershey said full-year net sales were expected to rise around the low end of its long-term target of 5 to 7 percent and growth in its candy and mint category would be around 3 percent in 2014, slightly below the long-term projection of 3 to 4 percent.





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  2. Dreya

    Dreya Well-Known Member MEMBER

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    choccy goin up in price????????!!!!!! :SuN015:
     
  3. Kadijah

    Kadijah Banned MEMBER

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    Either that, or African parents are wising up to the child enslavement practices of Hersey and pulling them, thus labor costs are rising by virtue of the white folks having to employ adults. :10400:
     
    Last edited: Jul 25, 2014
  4. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    i don't mind paying a fair price.....
     
  5. Dreya

    Dreya Well-Known Member MEMBER

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    ahhhh yep good point - if the growers are gettin more id be willin to pay more - not willin to if its just goin to buy new artwork for Hersheys boardroom though
     
  6. Kadijah

    Kadijah Banned MEMBER

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    hear, hear! 5 cents more to keep an African child out of slavery (no child protection laws there), I'd gladly pay.
     
  7. Kemetstry

    Kemetstry going above and beyond PREMIUM MEMBER

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    :lol:





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  8. Kadijah

    Kadijah Banned MEMBER

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    Hersey, Mars and Nestle use African child labor (in some instances, slavery) to get those chocolates to blacks in America. My mouth salivates ONLY at the thought of those scum being shut down (ain't happ'nen, though):



    Chocolate Slavery Case Against Nestlé Allowed to Proceed
    by Pratap Chatterjee, CorpWatch Blog
    December 24th, 2013


    [​IMG]
    Still from Dark Side of Chocolate documentary by Miki Mistrati and U. Roberto Romano.
    Eight years after they sued Archer Daniels Midland (ADM), Cargill and Nestlé for allegedly forcing them to work as child labor on a Côte d'Ivoire cocoa plantation, three young men from Mali have won a small victory – the ability to be heard in a California court.

    The lawsuit was first filed as a class action to represent thousands of former plantation workers in July 2005 by the Washington-based International Labor Rights Fund (ILRF) and Global Exchange, which is based in San Francisco. The non-profit organizations recorded videotape testimony from the three specific individuals who stated that they had been lured across the border between 1994 and 2000 with the promise of easy work and good wages.

    “Plaintiffs, aged 12 to 14 when first forced to work as child slaves, had to work 12 to 14 hour days with no pay.

    http://www.corpwatch.org/article.php?id=15915


    Some children are worked 80-100 hours/week for those cheap bars of chocolate we so love.
     
  9. CheeDee

    CheeDee Member MEMBER

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    Please look into Chocolate farms and how it is farmed and who are the workers and who gets paid.
     
  10. CheeDee

    CheeDee Member MEMBER

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    I was trying to post some links about Chocolate farms, who owns and works them and who profits. They can't do this without other Africans working with them.

    I got a message that said I don't have enough posts to include links in my posts. Oh well.
     
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