Hazelnut harvest halved: why Nutella may dramatically rise in price.

Price increase for Nutella due to low hazelnut harvest in Italy

The chocolate-hazelnut spread Nutella may become more expensive due to the record low hazelnut harvest in Italy. This year, the country harvested only 70,000 tons of hazelnuts, which is half of the average figures from previous years. This is reported by Der Spiegel, citing local agricultural associations.

Hazelnuts are a key ingredient in chocolate-hazelnut spreads, including Nutella, which has been produced by Ferrero since the 1940s. Each year, it releases about 500,000 tons of this product, with approximately 13% of Nutella's composition being hazelnuts. They started adding it during World War II to lower the cost of the spread due to a shortage of cocoa beans.

Reasons for the decline in hazelnut harvest

The hazelnut harvest has been declining for the third consecutive year. This is related to climate changes: warm winters, spring rains, hot summers, and pest invasions negatively affect the harvest. As a result, the prices of all hazelnut-based products may rise, which will specifically impact the retail prices of Nutella and other goods.

Rise in popularity of Japanese matcha tea

Global interest in Japanese matcha tea has increased due to the growing popularity of this drink worldwide. Speculation, low harvests, and American tariffs have led to product shortages, causing price increases and scarcity in the market. Social media and the tourist boom in Japan have also contributed to the rising demand for Japanese matcha. The ongoing shortage of hazelnuts and the demand for Nutella may lead to a change in price policy among producers, which, in turn, will affect consumers. In the context of globalization and interconnected markets, such situations can impact the entire segment of products containing hazelnuts. It is interesting to see how this will influence consumer habits and new trends in the market.