Chocolate Ice Cream Price Hike: In the summer season, everyone’s favorite ice cream can now become heavy on your pocket. This is not because of heat or its high market demand but because of the US-Iran war. In fact, due to the ongoing war between the US and Iran, the prices of many things have increased, including domestic gas, petrol and diesel, now names of other things have also been added to it. Due to this, the prices of ice cream and chocolates may also increase.

What is the whole matter?
According to a report by Times of India, the effect of the ongoing tension between US and Iran is being seen across the world with shortage of various things. For this reason, the cost of items used in ice cream and chocolate which are imported from the Middle East has increased and the demand in the market has also increased according to the season, due to which exporters are facing problems.

What things are lacking?
Companies that rely solely on nuts, dry fruits and cocoa powder or raw cocoa say prices have risen sharply in the past few weeks, as have freight and packaging costs. An industry official told TOI that the prices of nuts and dry fruits have now increased by 15% to 22% as compared to earlier.

Inflation is on top of the weather.
This situation has arisen at a time when it is extremely hot and the demand for ice cream is also very high. In such a situation, due to sudden increase in price, its sales may also be affected. This is a big problem for many brands because it has been hit by inflation at a time when the summer season has started, now it is difficult to work on designing and sourcing plans again.

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CMIE REPORT on India’s Expensese: Over time, there has been a big change in the country from the living to the catering. In such a situation, the report of the Center for Monitoring Indian Economy (CMIE) is telling the real picture of the country. During the last one year, oil fat has decreased by 19.67 percent. On the other hand, spending has increased by 19.78 percent on things like chocolate.

In this report, giving details of the last four years, it has been told how and on what people are spending more. 6.60 lakh crore rupees were spent on chocolate, gem and sugar during the year 2023-24. Whereas people spent only 2.45 lakh crore rupees on oil and fat. So 5.95 lakh crore rupees were spent on the vegetables.

Exceeding more chocolate than vegetable-oil

On top of this, people spent Rs 5.51 lakh crore in the year 2022-23, while Rs 3.05 lakh crore was spent on oil fat and Rs 5.28 lakh crore on vegetables. Similarly, according to the CMIE report, in the year 2021-22, while Rs 4.71 lakh crore was spent on chocolate, game and sugar, Rs 5.06 crore on vegetables and Rs 2.76 lakh crore on oil fat.

If we talk about 2020-21, then where people spent 4.46 lakh crore rupees on chocolate, gem and China, people spent Rs 4.79 lakh crore on vegetables. Similarly, he spent Rs 2.01 lakh crore on oil fat. Obviously, this data shows how people have changed over time. Apart from this, the expenditure on health has increased by 18.75 percent, while consumer expenses have also increased by 9.72 percent to Rs 181.4 lakh crore.

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Free Trade Agreement: India had earlier signed a free trade agreement with Britain and has now approved the FTA with four countries of Europe. The four countries of Europe with which the free trade agreement has been included- Switzerland, Norway, Iceland and Lynchister. This is expected to make many goods cheaper after the customs are zero. According to the report, the free trade agreement will be removed from it. This will make it cheaper like chocolate with Swiss watch. From the month of September, it will be implemented with four other European countries along with Switzerland.

India can come to a big investment

At this time, 30 percent import duty is levied on Swiss chocolate from India. It is believed that high and technology can benefit the most of this agreement. Through this agreement, more than $ 100 billion can be invested in India from these four countries of Europe. It is believed that a big investment in pharmaceutical companies can also come after this agreement.

What is FTA

Significantly, after the agreement with these four countries of Europe, duty on 90 percent of goods will be removed. One of its biggest advantage will be that there will be a big opportunity for those countries as a market in India for investment. However, in these agreement, special care has been taken to the interests of the farmer and products related to agriculture

Actually, after the free trade agreement, the trade between countries is made easier. After this, the customs and subsidy on import-export are either finished or very low. That is, this free trade agreement is completely against the business protectionism of any government.

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