The weather has been nuts this year. Between the ice storms and the devastating droughts -- and let’s not forget the polar vortex -- we’ve practically all had to become amateur meteorologists just to step outside the door.
This isn’t just a North American problem. Climate destabilization is a global issue costing billions in damaged food crops and insurance claims every year.
As if that wasn’t bad enough, now we learn the price of Nutella is probably going up.
Thanks to an unseasonably chilly spring in Turkey, this year’s supply of hazelnuts into the global market has been dramatically cut.
Although it’s still early on in the harvest, Turkish farmers, who supply about 70 per cent of world’s hazelnuts, are reporting a total yield of about 517,000 tonnes.
Initial expectations put the figure closer to 800,000 tonnes – a yield that, had it come to pass, would have seen hazelnut prices decrease.
Alas, the opposite is proving true. Michael Stevens of Freeworld Trading, an Edinburgh-basedRead More »from Hazelnut shortage has Nutella fans running scared of price spike