PETALING JAYA: Nestle (Malaysia) Sdn Bhd is set to adjust prices for selected products due to the hike of global cocoa prices.
Chief executive officer Juan Aranols stated that the company aims to keep the price increases minimal, and plans to implement only moderate adjustments for certain products, according to Free Malaysia Today.
He added that the company is cautious about the increase in prices which can affect customers’ purchasing power.
““However, due to the volatility in the commodity markets – of course, we will not fully pass on the impact – there may be some price increases that we have to undertake in the next few months,” he was quoted as saying.
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German Press Agency (dpa) recently reported that the price of a ton of raw cocoa on the London commmodity exchange recently climbed to a record high of just under €5,500 (US$5,960).
“A kilo of cocoa is almost €3 more expensive than it was a year ago,“ a spokesman for the German chocolate manufacturer Ritter Sport said.
“Anyone can work out for themselves what this means for the production costs of a 100-gram chocolate bar, which contains between 35 per cent and 70 per cent cocoa, but we are currently assessing the situation as a whole,“ he said.
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