Turkey’s competitors authority has launched a authorized investigation into Italian firm Ferrero on prices of monopolizing the hazelnut market.
In a preliminary section, the authority discovered proof severe sufficient for opening an investigation into Ferrero, an Italian multinational headquartered in Luxembourg and the world’s second-biggest chocolate producer and confectionery firm.
Ferrero employs greater than 1,000 individuals in Turkey, the place it has been sourcing hazelnuts throughout the agriculture-rich nation’s Black Sea areas for over three a long time.
However the firm - Turkey’s prime hazelnut purchaser particularly for its world-famous Nutella unfold - has angered Turkish farmers, who accuse Ferrero of paying meagre sums to them for hazelnuts after which promoting its merchandise at considerably greater costs.
“We began our authorized course of with the competitors authority in September in opposition to Italian firm Ferrero, which is making an attempt to monopolize the hazelnut business,” Hilmi Güler, mayor of the Black Sea province of Ordu, whose economic system is generally primarily based on revenues from hazelnuts, tweeted.
“An investigation has been launched as a result of firm’s actions in any respect ranges, from manufacturing to buying, shelling and export,” he stated.
Turkey is the world’s main hazelnut producer, accounting for round 70 % of the overall world provide. The nation exported 344,379 tons of hazelnuts to 122 nations in 2021, in line with the Black Sea Hazelnut and Hazelnut Merchandise Exporters' Union.
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