Chocolate Makers

Mars International India FY24 results: Loss narrows to Rs 1.79 crore

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.

International Chocolate Day 2024: History, benefits, its addiction and more

International Chocolate Day 2024: Dark chocolates contain sugar and high amounts of cocoa (70 per cent or higher). It has several health benefits. Get to know more here

Chocolate firms, bakeries receive notices for alleged GST underpayment

Directorate General of Goods and Services Tax Intelligence say chocolatiers, bakeries do not classify as restaurants and must pay 18% GST, not 5%

Nestle chocolate may flag more price hike by Christmas as cocoa costs bite

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

Imports of luxury chocolate brands zoom 45% on steady uptick in demand

According to industry insiders, imports of such luxurious products in India will be driven by the demand for organic, dark, vegan gluten-free and sugar-free chocolates

Cote d'lvoire announces farm gate price of cocoa at Rs 1,000 CNF Franc/kg

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 ...

Chocolate prices can rise even further if Africa's cocoa crop fails

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

World Chocolate Day 2023: History, significance, wishes and Quotes

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

Chocolates may bite as rise in demand pushes cocoa prices at 46-year-high

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

DS Group acquires chocolate brand LuvIt, to expand confectionary business

The company could scale the LuvIt brand to Rs 500 crore, up from the current Rs 100 crore, said Rajiv Kumar, vice chairman, of DS Group

TMS Ep399: Indian IT layoffs, confectionery, markets, bank stress test

Do Accenture layoffs portend trouble for Indian IT? Why is India's confectionery market attracting billions? How will the markets play out in FY24? What is a bank stress test? All answers here

Mondelez ups India bet, to invest Rs 4,000 crore in next three years

The chocolate maker will expand capacity at its manufacturing facilities, build more warehousing capacity, and augment cold-chain facilities

African cocoa giants make new move in spat with chocolate sector

For now, it looks like the cocoa-growing giants will continue to struggle to receive the full combined premiums

Chocolate maker Smoor to raise Rs 50 cr, open over 100 outlets in 5 years

Smoor will also be launching an experience centre in Bengaluru where visitors would be able to experience the craft of exquisite chocolate making.

Global chocolate makers have sweet-loving Indians in their sights

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

Nestle recycles cocoa fruit waste to replace sugar in its chocolate

As confectionery groups scramble to reduce added sugar, chocolate sweetened with cocoa fruit pulp is about to hit supermarket shelves with food giant Nestle ready to launch its "Incoa" bar

Hershey's chocolates are not all that sweet for west African cocoa growers

The governments of Ivory Coast and Ghana have accused Hershey of maneuvering to circumvent premiums tacked on to the price of cocoa futures in order to raise incomes for hard-pressed cocoa farmers

ITC steps up play in Rs 11,000-cr chocolate market with a dozen launches

Plans to play in the entire segment including chocolates, cookies, wafers and spreads to give customers a differentiated experience

Mondelez, Ferrero among chocolate majors to post healthy top-line growth

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

Vinegar to green tea, chocolate innovators try new flavours to boost sales

Staying on trend means demand is soaring even as foods like hot dogs and milk are in a bit of consumption crisis