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German investigators have raided the offices of several major confectionery companies amid allegations they fixed the price of chocolate.
Mars, Nestle, Kraft and Ritter, who have all confirmed that they are part of the investigation by the Federal Cartel Office, face huge fines if found guilty of the charges.
The investigation was launched after several of the companies raised their prices by between 10 and 12 per cent within a few weeks of each other, raising the suspicions of the authorities.
A further three companies have also received letters informing them they are part of an industry-wide inquiry although they have not been named.
Chocolate-makers said the price rises were due to increasing costs for cocoa, the price of which has jumped 32 per cent in the past year, and sugar, which has risen 22 per cent. Milk costs are also estimated to have risen by a third last year while the price of nuts has also soared.
A spokesman for Nestle, which makes Aero and KitKat, said there had been a "worldwide, hefty increase in the price of cocoa". "This naturally leads to the adapting of prices," he said.
The US company Kraft, which makes Milka, Toblerone and Cote D'Or, confirmed its offices in Bremen were searched. The US confectionery giant Mars owns the Snickers, M&M's and Twix brands.
The cartel office alleges that the price rises were even higher than the increase in raw materials. The companies could be fined up to 10 per cent of their annual turnover. This would not be limited to German sales as the parent company is considered responsible for the actions of different divisions, the cartel office said.
- INDEPENDENT
