Chocolate giant Cadbury has doubled the price of its large Freddo frog and Caramello Koala products because of the rising cost of cocoa.
The 12g Freddo and the 35g Caramello Koala chocolates will be sold for $2, up from the previous recommended retail price of $1.
It’s been a decade since the price of the two beloved Cadbury staples has changed, the company said.
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“Due to rising costs such as the global record price of cocoa, we have made the difficult decision to adjust the recommended retail price to $2,” a company spokesperson said.
“This decision ensures we can continue to deliver the high-quality Cadbury chocolate our consumers love.”
Global prices of cocoa hit an all-time high on the New York Stock Exchange in April when it was valued at $US12,261 a tonne compared with $US3000 the same time in 2023.
Poor climate and crop diseases in West Africa — home to 70 per cent of global cocoa production — have tightened supply and caused prices to skyrocket.
Aside from Cadbury, Mars has also increased the price of some of its other products by 15 per cent.
– With CNN
