- An unusual cold snap in Turkey is predicted to increase the price of Nutella and Ferrero Rocher chocolates.
- 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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