LONDON Jan 12 Cadbury chocolate owner Mondelez
International said it is taking selective price
increases across its brands, as it grapples with higher
commodity costs and a weaker British pound.
Mondelez in November attracted consumer criticism when it
changed the shape of its Toblerone bars, putting more space
between its distinctive jagged peaks, in order to recoup some
Britain's Guardian newspaper reported that Mondelez was
raising the price of its Freddo bars from 25 pence to 30 pence
in the spring. A Mondelez spokeswoman declined to discuss
specific brands, saying only that there would be "selective"
price increases across its range.
"It is well reported that food and drink manufacturers have
been experiencing increasing commodity costs for some time
which, coupled with recent foreign exchange pressures, are
making food products more expensive to make," the spokeswoman
said, noting the price of cocoa, which it imports into the UK,
is up more than 50 percent since 2013.
Earlier this week Premier Foods, the owner of Mr
Kipling cakes, said it was in talks to raise prices, and last
year's row between Unilever and Tesco over
price increases on goods like Marmite made nationwide
The British pound is still down 18 percent since Britons
voted in June to leave the European Union. The weakness makes
imported goods more expensive.
(Reporting by Martinne Geller in London; Editing by Alexandra