The manufacturers of a popular Israeli chocolate spread have announced that they will raise prices by nearly 10%, due to the rising price of cocoa.
Hashachar Ha'oleh, the company which makes the best-sold chocolate spread in Israel, will raise its prices beginning in November.
Moshe Wideberg, CEO of the company, told Israel Hayom: "The price is rising for only the second time in the past ten years. The previous time it went up was in 2021."
He explained, "The main reason for the current rise, beyond the general inflation, is the rise in the cost of cocoa, which has risen in price by 140% over the past year. We absorbed the rises until our existent cocoa contracts ended, but now, if we desire life, we msut raise the prices."
Among the affected products are Hashachar Ha'oleh's chocolate spread, cocoa powder, and baking chocolate, which will rise 9.7% in November.