The price of Amul chocolates, a popular brand in India, may soon see a significant increase due to the rising cost of cocoa in the country.

What Happened: According to a Times of India report, the price of cocoa beans in India has seen a sharp increase, jumping from ₹150-250 to ₹800 per kilogram. This has led Amul, a leading dairy company owned by the Gujarat Cooperative Milk Marketing Federation (GCMMF), to contemplate a 10-20% price hike for its chocolates.

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Jayen Mehta, the Managing Director at GCMMF, indicated that the price increase could be implemented within the next two months. Despite the anticipated price hike, Mehta is confident that Amul’s market share in the chocolate segment will not be affected due to the brand’s competitive pricing strategy.

Why It Matters: The rising cost of cocoa is a significant concern for chocolate manufacturers in India. Other brands, such as Baskin Robbins and Havmor Ice Cream, are also feeling the pinch but have decided to maintain their current prices for the time being. Mohit Khattar, CEO at Graviss Foods, which holds the master franchise rights of Baskin Robbins in India, stated that they would reassess their pricing strategy after the summer season.

The potential price increase by Amul could set a precedent for other chocolate manufacturers in India. If cocoa prices continue to rise, consumers may have to brace themselves for more expensive chocolates in the near future.

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