Nutella prices set to increase due to cold snap
Turkey accounts for approximately 65 percent of the world's hazelnut production, and recent frosts severely damaged crops.
Wholesale hazelnut prices have already risen by around 30 percent, with further increases anticipated.
Ferrero, the Italian maker of Nutella, purchases about a quarter of Turkey 's hazelnut output, linking the price rise directly to the supply squeeze.
While Ferrero states it does not expect a supply disruption due to other hazelnut sources, scientific analysis suggests such late-spring frosts may be exacerbated by the climate crisis.
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