The Turkish Problem and What Ferrero Did When It Ran Out of Hazelnuts

Do you know how many hazelnuts go into a jar of Nutella? Quite a few. So many, in fact, that Ferrero — the manufacturer of that chocolate spread we all know and love — was almost entirely dependent on Turkey, the country that produces around 70% of the world's hazelnuts.

In 2025, late spring frosts and an insect plague devastated the Turkish harvest. The result: fewer hazelnuts and prices that jumped by nearly 20% almost overnight.

So what did Ferrero do? They pressed on. They drew on their reserves and already had alternative suppliers in Chile, the United States and Serbia lined up before they needed them. Their Plan B was ready well in advance. In the business world, that's called resilience: the ability to absorb a blow without everything falling apart. And here on the Costa del Sol, where tourism and hospitality are everything, that kind of safety net makes all the difference.

What about your business? Do you have a Plan B?

You may not be buying tonnes of hazelnuts, but you too depend on things you don't entirely control. A fire on your premises, a breakdown that halts your equipment for days, a complaint from an unhappy client — or a period of illness that leaves you unable to work or invoice for weeks.

And here lies the key difference between Ferrero and most businesses: a giant corporation can fill warehouses with reserves and absorb the impact. A self-employed person or an SME, on the other hand, generally cannot afford that luxury.

That's what insurance is for: your hazelnut reserve

Insurance is, at its core, your Plan B. It doesn't eliminate the unexpected, but it makes it manageable.

A good commercial premises insurance policy protects your premises, your equipment and your stock. It can even cover the income you lose if you have to close temporarily — in insurance terms, this is known as loss of profit cover, compensating for the revenue you miss out on while you're unable to trade.

However, commercial insurance isn't always sufficient on its own. Depending on your line of business, you may need additional pieces in that Plan B:

• Public liability — If your business causes harm to a third party (a customer who slips on your premises, a faulty product, an error in a service), public liability insurance covers you. Without it, that claim comes straight out of your pocket.
• Sickness and inability to work — For the self-employed, this is especially critical: if you fall ill or have an accident, your income stops from day one. Income protection insurance (ILT) — known in Spain as Incapacidad Laboral Transitoria — pays you a regular income while you recover.
• Cyber risks — More and more businesses rely on digital systems, card payment terminals and customer data. A cyberattack or a data breach can bring your operation to a standstill. Cyber insurance covers exactly these situations.

If you have several employees or a larger structure

If it's no longer just you and you have a team, your needs change. This is where SME insurance comes in, designed for businesses with greater risk exposure: more premises, more people, more responsibilities.

A sum insured — that is, the maximum amount your insurer would pay out in the event of a claim — that has been poorly calculated can leave you seriously underprotected at the worst possible moment. That's why it's important to review your cover carefully with someone you trust, rather than simply taking out the first policy you find online.

Ferrero had its Plan B. Your business can have one too.

You don't need to be a multinational to have a contingency plan. What you need is the right cover for your type of business, reviewed by someone who truly understands it.

At Segurmar, we have been advising sole traders, retailers and SMEs in Marbella for many years. We know that every business is different and that there is no single policy that works for everyone.

Shall we review your Plan B together?