Don't panic but there's a hazelnut shortage that could very seriously affect everyone's favorite chocolate hazelnut spread. Before you chuck your laptop across the room in a mad dash to get your local grocer hear us out.

Severe weather conditions are to blame for over 70 percent of Turkey's hazelnut crops being devastated. Because of the decrease in supply, prices have skyrocketed and will only continue to increase as the supply dwindles.

So here's how things will affect our beloved Nutella, in a nutshell, (pun intended), Nutella purchases over 25 percent of the world's hazelnut supply to keep up with the demand of their popular product. Obviously, the leader in chocolate hazelnut spread can't exactly produce Nutella without hazelnuts. Lucky for us, the chocolate gold producers swiped up a huge Turkish hazelnut producer that should keep price increases at bay, but there's no guarantees.

Just to be safe, you better start hoarding your jars like their gold, as if you weren't doing that anyway.

H/T Gothamist