Higher cocoa prices are affecting companies across the board, including dairy major Amul, ice cream brand Baskin Robbins, snacking and cereal company Kellanova, and others. Amul is looking to hike the price of its chocolates by 10-20%, Jayen Mehta, MD at Gujarat Cooperative Milk Marketing Federation (GCMMF), which owns the brand, told TOI.
Source: Times of India/TOI