Some like The Whole Truth (TWT), a Mumbai-based clean label D2C food brand, has paused the production of its milk chocolates and has steeply hiked the prices of its dark chocolates from 299 to 299-375.
200In the last six months, the rates for cocoa liquor have gone up from ₹500 per kg to ₹1,200 per kg and cocoa butter has tripled to 1,600 per kg.
While Nestle India said it is closely monitoring the situation, Parle Products hinted that it may initially hike prices by 10-15% over the next two months to cope with the volatility in cocoa prices. Krishnarao Buddha, senior category head, Parle Products, said, the company would take a final call based on the competition dynamic and market challenges.
While earlier it was reported that it was a croprelated issue in West Africa, slowly the narrative has changed to the withholding of stocks by traders, he added..
In February this year, the Hershey Company indicated that it may raise prices on its products this year due to increased input costs from a global cocoa shortage, whereas
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