The European Parliament votes to dismantle the law against deforestation

The anti-deforestation legislation, hailed as revolutionary by environmental organisations, was strongly criticised from the start by some countries, such as Brazil, the US and, within the EU, Germany, eager to protect their foresters. Several large companies, including Nestlé, Danone and Ferrero, had however prepared themselves and were urging Brussels to definitively implement it…

Quick Take — The price of hazelnuts, essential for Ferrero’s spreads and chocolates, has almost doubled since the beginning of the summer

after a spring frost and a pest epidemic in Turkey reduced the amount of hazelnuts available for the confectionery industry.

Ferrero, which consumes about a quarter of global hazelnut production , halted purchases, drawing on its own stocks and sourcing from Chile and the US.

London-based traders say prices have further inflated as Turkish middlemen have aggressively bought from farmers, betting that the world’s largest hazelnut consumer will soon be forced back into the market.

In a normal year, Turkey harvests between 600,000 and 700,000 tonnes of hazelnuts, almost two-thirds of the global supply of around 1.1 million tonnes.

The hazelnut situation, like that of cocoa or meat and milk, will create further inflation.

Drafted 31 October, updated 2 November 2025

Quick Take — The Wall Street Journal: ‘Ferrero prepares US shopping spree and deals with Kellogg’

The American newspaper: ‘The group is working on a 3 billion deal. The target is the colossus’ breakfast products’. No confirmation from the Alba company.

The history of corn flakes is interesting and crosses over with the methods later used by Ferrero: the prizes combined with the products, already in the early 1900s, reminiscent of Kinder egg surprises.

On the ‘healthy’ corn flakes – they are full of sugar – I would instead draw a veil.

Ferrero made the acquisition directly.

Edited 10 July, updated 11 July 2025