Consumers paying higher prices as cocoa, sugar prices soar

NEW YORK CITY, New York: Hershey, Mondelez, and other manufacturers of chocolate products face a challenging year ahead as they grapple with soaring cocoa prices and seek to pass the cost onto budget-conscious consumers, who are beginning to cut back on purchases.

Despite recent strong profits, the industry's resilience to price hikes may be waning, particularly as cocoa prices hit a 46-year high and sugar price