New Delhi: Chocolate fans might need to brace for a price surge in their beloved Amul chocolates as the cost of cocoa beans, the essential ingredient in chocolate, has seen a dramatic increase. The price per kilogram of cocoa beans in India has soared from the range of Rs 150-250 to a steep Rs 800.
This price hike is not just a local phenomenon; it’s a global trend that’s causing ripples across the chocolate industry. Manufacturers worldwide are contemplating strategies to cope with the rising costs, which may include increasing the prices of chocolate products or potentially reducing their size.
The Times of India reports that the impact of this price rise is widespread, affecting various sectors, including dairy and snacking brands. Amul, a leading name in the dairy sector owned by the Gujarat Cooperative Milk Marketing Federation (GCMMF), is reportedly considering a price hike of 10-20% for their range of chocolates.
Despite the looming increase in chocolate prices, Amul plans to keep the prices of its ice creams and beverages steady for the time being. The brand remains optimistic that the hike will not adversely affect its market share, given its strong position in the industry.
Similarly, the American ice cream giant Baskin Robbins, along with Havmor, another prominent player in the ice cream market, intends to maintain their current pricing levels⁴. This decision reflects the brands’ commitment to providing value to their customers despite the cost pressures.
Understanding Cocoa Beans:
Cocoa beans are at the core of every chocolate delight. These beans undergo a transformational journey, starting with roasting to enhance their rich flavors. They are then processed into a dense paste known as chocolate liquor, which comprises both cocoa butter and cocoa solids. For cocoa powder, the cocoa butter is extracted, leaving behind the solids that are then dried and ground. In the making of chocolate bars, sugar, additional cocoa butter, and other ingredients like vanilla are reintegrated with the liquor, undergoing further refinement to produce the luxurious chocolate that consumers relish.
