hazelnut prices

Rising hazelnut prices due to Turkish frost threaten global supply and impact Serbian production

Consumers have already felt the impact of rising cocoa prices on chocolate, and now another key ingredient—hazelnuts—is facing price increases due to adverse weather in Turkey, the world’s largest producer. Turkey accounts for up to 75% of global hazelnut production. However, a severe frost has significantly reduced this year’s harvest, leading to a 30% price increase since April. Bloomberg reports that prices are expected to continue climbing, which could affect consumer costs worldwide, given hazelnuts’ wide use in confectionery products.…