Chocolate confectioner Cadbury India has said that it will have to cut costs to soften the impact of increasing cocoa prices.

The price of cocoa has reached a sixteen-year high due to the current crisis in the Ivory Coast, the world’s largest cocoa producer.

“While we need to make the impact on the consumer the least, we also need to ensure that it doesn’t impact our profitability. Cost cutting is one of the things [we can do to eliminate the impact],” Cadbury India managing director Bharat Puri told the Financial Express.