Should Dunedin ratepayers fund Cadbury's Chocolate Carnival?

American multinational Mondelez International may have announced they're closing Dunedin's iconic Cadbury factory - but they may still have their hands out for some sweet ratepayer cash.

Up to 362 people are expected to lose their jobs as a result of moving production to Australia, however Mondelez is keeping its options open over seeking funding for taking part in the Cadbury Chocolate Carnival.

Last year a total of 75,000 giant Jaffas were sent hurtling down the world's steepest street in Dunedin - Baldwin Street - in their annual 'Running of the Balls' publicity stunt.

In 2015 and 2016 the Dunedin City Council gave the event $55,000. Cadbury was also given rates relief in 2006, worth almost $250,000 over four years, according to the Otago Daily Times.

It's not known whether the Council will continue funding of the event as the application process hasn't begun, however a Mondelēz International spokesperson said they hoped the Cadbury Chocolate Carnival festival would continue.

"Cadbury Carnival has helped raise over $1 million for charities including Make-a-Wish, Surf Lifesaving, Food Share and Youthline and we intend to maintain this popular event in 2017 and work with stakeholders to look at how we can continue to support these community partners in 2018," they told Newshub.

"While our partnership includes $55,000 in direct grant funding for the 2016 Carnival from the council, we contribute more than three times this amount to the event ourselves.

"The Dunedin City Council funding is used to promote the city in association with the Cadbury Carnival, Dunedin's largest free public event."