• Source:JND
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Amul chocolates are soon to get a bit expensive as the price of cocoa in India has witnessed a sudden spike. The cost will also impact all the products using cocoa in it. However, the ice cream and beverage prices may not be increased since the cost of chocolates in these products has a low impact on the market share. Reportedly, the price of Amul chocolates, which has the largest share in the dark chocolate space, can go up by 10 to 20 per cent.

Jayen Mehta, MD at Gujarat Cooperative Milk Marketing Federation (GCMMF), which owns the brand told the Times of India that the cost of cocoa, used to make chocolates, has witnessed a sudden rise. It has gone up to Rs 800 in India from Rs 150-250 earlier. This has increased the pressure on the market. Citing the reason Mehta stated that the new prices will be implemented within a period of two months.

"The price of a kilogram of cocoa beans has shot up to Rs 800 in India from Rs 150-250 earlier. The pressure is real. We have the largest market share in the dark chocolate space which uses cocoa butter as a major ingredient," he said, as quoted by the Times of India.

Prices Of Ice Cream To Remain Unchanged

With India already witnessing scorching heat, the increasing price of ice creams can be a major concern for people. However, in a piece of good news, the increasing cocoa prices will have no impact on the price of ice creams. "In products such as ice creams, which are seasonal, it's not very easy to raise prices," Mehta said.

Baskin Robbins To Hold Prices Of Ice-Cream

Besides Amul Ice Creams, Baskins Robbins will also be holding the prices of ice creams for now, TOI quoted Mohit Khattar as saying. Khattar is the CEO at Graviss Foods, which holds the master franchise rights of Baskin Robbins in India.

"As of now, we have decided to absorb the incremental costs due to increased input costs, leaving consumer prices untouched... We will reassess the situation once the season is over and take a call on further course of action. We still anticipate good sales this summer," Khattar said.