Brace yourself for price hikes...
Unseasonable weather in Turkey is set to impact on the price of Nutella in the coming months.
A bad harvest has reduced the supply of some crops by up to a fifth, and The Mirror reports that shoppers in the UK are already paying up to 25% more for the spread.
The bad news doesn't stop there, however, as the price increase could climb to 38%, according to the newspaper.
Turkey produces some 70% of the world's hazelnut harvest, and weather conditions have disrupted the supply of hazelnuts - Nutella's key ingredient. Similarly, cashews and peanuts are also likely to be affected by the effect of the weather on crops in the country.
Some producers have no supply, while others are holding on to their produce as reserves dwindle.
A standard 400g jar of Nutella will currently set you back €2.69. In the UK some retailers have been forced to hike prices from £2 to £2.50 over 12 months.
Tesco Ireland confirmed to Newstalk that the price of a standard jar has remained unchanged during the past 18 months.
However, given the scale of its operations, Ferrero, the company who make Nutella, have tried to protect themselves from these fluctuations:
"Ferrero is accustomed to managing high price instability in the markets and we are prepared for this situation. We will work with our suppliers to minimise impact on our consumers," the company told Newstalk.
In 2014, Ferrero bought Oltan, Turkey’s largest hazelnut processor, in order to further shore up any issues surrounding supply.
As an indication of its size, Ferrero uses 25% of all of the world's hazelnuts. The chocolate spread was invented in Italy during WWII when a coca shortage led Pietro Ferrero, a pastry maker from Piedmont in Italy, to create the hazelnut-based treat using just a little of the rare coca reserves.