Chocolate Firms

Mars International India -- the makers of premium chocolates such as Galaxy, Snickers, Mars and Bounty -- narrowed its loss to Rs 1.79 crore in the 2023-24 financial year. Its revenue rose 2.82 per cent to Rs 2,329.92 crore, according to the RoC filing from the confectionery major. Its total income, including other income, was up 3 per cent to Rs 2,339 crore for FY24, according to financial data accessed through the business intelligence platform Tofler. Mars International India, an unlisted entity which operates in the chocolates and petcare segment, reported a loss of Rs 38.86 crore in FY23 while its revenue from operations was Rs 2,265.98 crore. Its "advertising promotional expenses" were up 24.71 per cent to Rs 212.8 crore for the year under review as against Rs 170.63 crore in FY23. Moreover, cost royalty paid to its global parent entity, also went up 8.61 per cent to Rs 20.80 crore in FY24. Total tax expense of Mars International India in FY24 was up 36.8 per cent to Rs 28.

As companies like Nestle raised their chocolate prices, they ceded sales volumes to cheaper rivals including Tesco and other supermarkets' own brands

Chocolate and rose sales on Zomato-owned Blinkit broke all previous records at the start of this year's Valentine's Day week, on February 7, which is celebrated as Rose Day

Cote d'lvoire, the world's largest cocoa producer and exporter, on Saturday announced the farm gate price of 1,000 CNF Franc per kilogram (Rs 133.09 )for the main crop of the 2023-24 marketing year starting October 1. The cocoa farm gate price, which is similar to India's minimum support price fixed for a dozen commodities, is a rate below which buyers are not allowed to pay. The farm gate price for cocoa, largely used in manufacturing chocolate, was at 900 CFA Franc per kilogram (Rs 120 per kg). CFA Franc is the currency of Cote d'lvoire. In India, no farm gate price is fixed for cocoa but usually the market rate of the commodity is higher. India produces only 27,000 tonne cocoa annually but imports about 1 lakh tonne of cocoa products. Announcing the price, Cote d'lvoire Agriculture and Rural Development Minister Kobenan Kouassi Adjoumani said: " We have fixed the cocoa farm gate price at 1,000 CNF Franc per kg for the main crop of this year. I declare 2023-24 marketing ...

For now, how West Africa's harvest fares will be the key driver of cocoa prices

Not only is chocolate delicious, but it also has health benefits, especially for the heart. It is believed to help treat sore throat, improve memory, and assist the brain fight ageing

Most chocolates contain 50% sugar and only 30% cocoa, thus the impact on chocolates will not be as steep as in the prices of cocoa

Chocolate -as well as ice cream, cakes and milk shakes - is starting to displace traditional treats among the middle classes

The acquisition of Kind North America will add to Mars' existing partnership with Kind International that operates across 35 countries.

Nestle India, which dominates the confectionery space with leading brands like Kitkat and Munch, continues to hold the third spot in revenue.

To keep young and health-conscious customers in the fold, chocolate and confectionary brands adopt clean labelling methods, keep pack sizes small

While Du Rhone landed in India first, if it succeeds, Confiserie Läderach, Confiserie Sprüngli and other international luxury chocolate brands may follow suit

Mondelez, Hershey, Nestle, Mars and Ferrero eye the country's Rs 8,200-crore chocolate market, clocking double-digit growth annually