The latest new tax we face could be on our favourite chocolate spread - the Nutella Tax. It looks as though the popular chocolate hazelnut spread Nutella may be under threat, as French lawmakers debate a bill this week hiking a tax on palm oil – one of the product’s main ingredients – by a hefty 300 percent.
My kids love this on Crepes but I actually had no idea it was made from almost 20% palm oil which is apparently high in saturated fats like butter & cheese. Obviously it is eaten in moderation - once a week not every day but the “Nutella tax” could potentially have far-reaching consequences on the fate of French pastries and other processed foods, which are in part so delicious because they are filled with saturated fats such as… palm oil. If the bill is adopted, not only will the price of Nutella go up by an estimated 0.06 euros per kilo, but the cost of all sorts of snack foods like crisps and cookies will also soar.
France reportedly consumes around 130,000 tonnes of palm oil per year, or the equivalent of two kilos per inhabitant. The widespread use of palm oil has also been criticised for leading to deforestation in countries like Indonesia and Malaysia. The makers of Nutella say their goal is for production to be 100 percent sustainable by 2015 in an effort to avoid the problems of deforestation.”
What's next in line then for a new tax? A tax on our daily Baguette?
Source: France 24