Mondelez plans price rises next year to cope with rising freight costs

Mondelez International Inc said on Monday it would hike prices for biscuits, gums and candies in the United States and certain emerging markets next year to battle rising transportation and freight costs.

The company's shares were up 2.2 per cent at $41 in extended trading, after the Oreo cookie maker also reported a quarterly profit that edged past estimates.

Higher fuel prices, new driver regulations and a shortage of drivers have made moving freight costlier for packaged goods companies.

Mondelez's move comes after rival Hershey Co last week said it would raise prices to ease pressures on margins.

Mondelez's cost-saving efforts, along with lower