Since the dry weather in the Ivory Coast took hold in early June, cocoa prices have risen 15 percent, compared with a 10 percent increase in the Dow Jones-UBS Commodity Index, according to The Wall Street Journal. For the full story, click here.
Editor’s Insight: Vending and refreshment service operators, along with all food and beverage resellers, will be affected by rising commodity costs. The consumer media continues to report on rising commodity prices, educating the public to expect higher prices.
Vending and refreshment service operators can’t expect the consumer media to do the full job of educating customers about higher prices. They need to inform their customers regularly about rising costs. At some point, operators have to raise prices to maintain profitability. Customers who have been kept in the loop will be more likely to accept higher prices. 08-14-12 By Elliot Maras