Ferrero (Nutella) has suspended purchases of Turkish hazelnuts. However, "Turkey remains at the heart of the Ferrero supply chain", the Group said in a statement, following news from the Financial Times to foreign agencies about the suspension of purchases from the country. The primary issue is cost trends, with hazelnut prices apparently almost doubling since the beginning of the summer, owing to a spring frost and a pest outbreak that limited the number of nuts accessible. Over the years, the business led by Giovanni Ferrero has diversified its supply countries to lessen supply risks, introducing hazelnut farming even in countries where it was not previously practiced, such as Chile. Ferrero purchased Oltan, a hazelnut processing company in Turkey, in 2014. Turkey's hazelnut production could decline to 500,000 tons (from 600-700,000), while natural hazelnut prices have climbed from roughly $9,000 per tonne in June to $18,000, according to a British newspaper.