Artisanal toast lovers should probably sit down before they get this news. Bad weather in Turkey could affect the production of Nutella, the chocolate-hazelnut spread beloved by many -- especially kids.
Turkey produces more hazelnuts than any other country, about 70 percent, which are the main ingredient in the chocolate spread. And, after a March frost in Turkey, the country is looking at a hazelnut crop that's about 30 percent lower than expected.
The price of hazelnuts has more than doubled in a little over a year, reports The Washington Post.
The good news is the Turkish company that makes Nutella, Ferrero group, in a sly move purchased the leading Turkish hazelnut producer. That means Ferrero can insulate itself to some degree from a spike in the market price for the nuts.
The company sells 250,000 tons of the stuff every year and it's not about to get a little chilly weather get in the way.
That said, Nutella lovers could see a bump in the price at the grocery. Another Nutella ingredient, palm oil, is also becoming more costly due to weather-related problems. And cocoa -- sweet mercy, not cocoa -- saw a price increase of 40 percent over last year, the Post reports.
Hat tip: The Washington Post