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Nutella May Become A LOT More Expensive

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Nutella May Become A LOT More Expensive

Photo cred - Nutella

Worldwide shortages of hazelnuts and cocoa, the prime ingredients of everyone's favourite sweet spread Nutella, means the beloved food product may seriously skyrocket in price. Lord help us all.

Turkey, which harvests 70% of the world's hazelnuts, experienced serious hail storms and frost which destroyed a large number of the nation's hazelnut crops. The result: a huge leap in hazelnut price, going from $6, 500 per tonne to $10, 500, according to DailyMail.

Cocoa supply has seen similar problems, as growing demand in Asian countries have begun to exhaust the already-sparse crop. If cocoa-demand remains the same, chocolate's main ingredient may become unsustainable by 2020.

Right now, Nutella costs around $7-$8 for a 26.5oz jar, which is said to contain 100 hazelnuts per jar. Expect that price to go way up if hazelnuts keep on getting more pricey.

Ferrero, the Italian company that owns Nutella, has released no financial reports on the cost of their premiere product, but did say they were exploring other hazelnut options outside of Turkey.

Screw tornadoes and tidal waves, if global warming  is to blame for the storms that muff'd up Turkey's hazelnut harvest, then we're all ready to jump on the Al Gore bandwagon. Hopefully it was just a bad year of weather for Turkey, and we'll still get Nutella at the already kinda expensive price it is now.

For more on all things Montreal, follow Michael on Twitter @MDAlimonte

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