USA – Chocolate giants Hershey and Mondelez International are gearing up to address the recent surge in cocoa and sugar prices as they prepare to unveil their first-quarter results Both companies have been grappling with elevated costs over the past few quarters, which have led them to pass on some of the burden to consumers through price hikes. Cocoa prices, which have nearly tripled in value this year, currently constitute approximately 20% of Hershey's cost-of-goods-sold (COGS) and around 10% of Mondelez's COGS. However, the recent sharp increase in cocoa prices, driven by supply shortages caused by droughts, erratic rainfall, and crop diseases in key cocoa-producing regions, could pose further challenges for these industry giants. In addition to cocoa, sugar prices have also experienced a notable spike in recent months, adding to the cost pressures faced by Hershey and Mondelez.