Spring frost affected hazelnut harvests in Türkiye – the largest producer of the dry fruit in the world.
Nutella fans – and other hazelnut products – can start to receive bad news soon.
This is because spring frost has caused damage to the harvest in the Türkiyewhich is the world’s largest producer of dry fruit.
According to the agricultural data company expands, hazelnut gross prices in Türkiye rose about 30% Since April and waiting to continue to increase, news a.
Turkey is responsible for about 65% of global production of hazelnuts. The recent frost, the worst in over a decade, has affected above all the orchards located in regions of higher altitude, with some farmers reporting total harvest losses, according to the National Council of Hazelnut.
The breach of supply is affecting not only Turkish producers, but also international marketsas alternative countries like Italy, USA and Chile have too small productions to compensate for Türkiye’s weight.
The Italian Ferrero Spa, the world’s largest buyer and manufacturer of Nutella and the candies Ferrero Rocherhe gets about a quarter of his hazelnuts in Türkiye. Although the company acknowledges that extreme weather phenomena may affect production, it says it does not predict immediate supply interruptions, thanks to origin diversification strategies.
Similar climate events have affected, in recent years, the offer of cocoa, coffee and olive oil, with price increases in both luxury goods and essential products. Experts warn that warmer winters are leading fruit trees to flower earlier, making them more susceptible to spring frosts.
The hazelnut crisis can also have political repercussions In Türkiye, warns the Swedish agency. About 450,000 families depend on the cultivation of hazelnuts, especially in the Black Sea region, a political bastion of President Recep Tayyip Erdoğan. The price of hazelnuts is set annually by the state agency of cereals, and unfavorable decisions on price or harvests have already influenced electoral results in the past.
In addition, the Turkish Central Bank warned that the reduction in hazelnut production could further aggravate food prices, making it difficult to combat high inflation in the country, currently in 35%.
However, some investors see in scarcity an opportunity. Finnish asset manager Evli has invested in the Turkish processor of hazelnuts Balssu Gida, providing for prices to quintuplenable next year. With the Turkish harvest already reviewed down to 609,000 tons – less 20% than expected – global markets may not have relief before next season in August 2026.
