Group 1 - Major chocolate companies, including Ferrero and Hershey, have announced price increases for their chocolate products due to rising cocoa prices and increased competition from domestic brands [1][2][3] - Hershey indicated that it would raise average chocolate product prices by double digits, while Nestlé also announced price hikes for its chocolate products [2] - Cocoa prices have surged, with futures reaching $7,380 per ton as of July 23, representing a 121% increase compared to two years ago [3] Group 2 - The increase in cocoa prices is attributed to a decline in international cocoa production and supply chain issues, leading to sustained high prices for over two years [3][5] - The price hikes from major chocolate brands may impact downstream markets, such as restaurants and dessert shops, although the overall effect on the companies' performance is expected to be minimal due to their strong bargaining power [4][5] - The market for chocolate products is becoming increasingly competitive, with the rise of domestic brands and the introduction of chocolate desserts in various retail outlets, putting pressure on traditional chocolate giants [3][4]