Frost and a hail storm in Turkey damaged 70% of the world’s hazelnuts, but Nutella won’t be feeling the pain. (And that means you won’t feel it in your wallet, either.)
According to BusinessWeek, Nutella parent company Ferrero Group straight out bought the hazelnut supplier Oltan Group in July. Ferrero uses 25% of the world’s hazelnuts, (wow that’s a lot of Nutella,) so it makes sense that such a huge company would want to have its supply not only guaranteed and consistent, but also above the fluctuating prices of the open market.
So while hazelnut prices have climbed 60%, Ferrero group has “less reason for concern,” according to BusinessWeek. All you Nutella lovers can still eat Nutella straight off the spoon with abandon.
Phew. (Runs to Nutella Bar at Eataly.)
But there is a dark side. If you love Cadbury’s Whole Nut Bar, there may be trouble, reports The Guardian.
