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Hershey announced Tuesday it will raise chocolate prices across its confection portfolio, citing a massive increase in cocoa costs that has pressured the industry for months.

Hershey announced Tuesday it will raise chocolate prices across its confection portfolio, citing a massive increase in cocoa costs that has pressured the industry for months.

Hershey has told retailers it will be taking a double-digit price increase on average across its confection portfolio due to a surge in costs of cocoa, a company spokesperson said on Tuesday.