Nutella prices to spike? Why your beloved spread may soon cost more

Nutella prices to spike? Why your beloved spread may soon cost more

Nutella prices may soon climb after Turkey — the world’s top hazelnut producer — was hit by a devastating spring frost that wiped out large swathes of crops. As the firm behind the brand faces rising raw material costs, global supply shortages loom. Could this climate-driven event mean higher prices for your favourite hazelnut spread?

Jars of Nutella spread produced by Italian confectionary maker Ferrero are displayed at a supermarket’s shelf in Subang Jaya, Malaysia, April 14, 2022. File Image/Reuters