A longtime Lehigh Valley candy company is warning its customers of upcoming price increases following a surge in cocoa costs.
Josh Early Candies posted on its Facebook page Tuesday that its largest raw material expense, cocoa, has seen an “unprecedented” price increase. It noted that cocoa is trading 150% higher than it was at the same time last year.
The company said chocolate is the “heart” of its business and that it sources “only the finest chocolate in the world,” regardless of price.
“In other words, while cheaper alternatives exist, we steadfastly refuse to sacrifice the quality of our chocolates for profit,” the statement reads in part.
Additionally, Josh Early Candies said it has experienced price increases across all aspects of its operations, including paper goods and raw materials, as inflation continues to impact the economy.
In the spirit of transparency, the company said it was announcing an upcoming price increase for its chocolate and other candies.
A report from CNBC in June stated that cocoa spot prices began the year at $4,200 a metric ton, and soared to $11,000 a metric ton in April. The report noted a crop disease, El Niño, farm gate prices and market speculation as factors in the spike.
On Wednesday, cocoa was selling for about $7,780 per metric ton, a significant increase from the roughly $3,660 it was selling at the same time last year.
Josh Early Candies, which has locations in South Whitehall and Bethlehem townships, was founded in Reading 1904. It has had a presence in the Lehigh Valley for more than 60 years.
New generation at Josh Early Candies looks toward sweet future
