Cadbury Australia will raise the prices of two of its products, Freddo Frogs and Caramello Koalas, due to rising ingredient costs.
The company formally declared on its social media account that it has increased the RRP from $1 to $2, marking the first price rise in more than a decade. The primary causes for the increase are the record worldwide price of cocoa and rising input costs.
“Sharebags of Freddos and Caramello Koalas are also available and offer great value,” the brand wrote.
“We appreciate your understanding and continued support as we strive to deliver the high-quality chocolate you love, made with the best local ingredients.”
Climate change is one of the most common causes of crop failure, and the global economic situation has also caused chocolate makers to struggle, with price increases planned to cover cocoa inflation.
Reuters reported earlier this year that major African cocoa facilities in Ivory Coast and Ghana have stopped or reduced processing because they cannot afford to buy beans, raising global chocolate prices.
Since the start of the year, the price for cocoa traded on the futures exchange has doubled, climbing from US$4275 a tonne to US$9481 after hitting an all-time high of US$10,274.
