Mars and Mondelez are raising wholesale prices on their chocolate products in Russia, citing rising global cocoa prices and increased production costs, RIA Novosti reported.
Mars, which produces Snickers, Twix, and M&M’s, said its pricing policy remains focused on keeping products accessible to consumers but noted the need to partially offset rising costs to maintain business stability.
Mondelez, the maker of Alpen Gold, Milka, Picnic, and Oreo, also pointed to an unusually sharp increase in cocoa prices, saying it is raising prices in stages to soften the impact on consumers.
Earlier, Izvestia reported that on January 20, Mars informed its partners of a two-phase price increase, set to take effect on February 20 and March 24. The cost of large chocolate bars is expected to rise by 14 percent, standard bars by 19 percent, and other formats by 13–19 percent, while M&M’s candies may increase by up to 16 percent.
Mondelez, meanwhile, informed retailers on February 13 that it would raise prices by 14.9 percent starting in April.
In late January, Kommersant reported that due to a sharp rise in prices, retail chocolate sales in Russia had fallen nearly nine percent in early 2024, as consumers shifted toward cheaper confectionery products that use less cocoa.
