According to the Financial Times, a frost in Turkey – the world’s largest producer of hazelnuts – back in April coupled with rising cocoa prices could result in a Nutella shortage. One 13-ounce jar of spread contains 50 hazelnuts.
Hazelnut prices have skyrocketed and hit a 10-year-high, causing many to worry that prices will only continue to increase with the possible shortage.
Though some analysts tell the Financial Times that prices might “ease” later this year, the full extent of the frost damage won’t be known until the end of October.
Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.