Turkey, Nutella maker Ferrero resolve hazelnut price complaints

Nutella peanut butter jars are pictured on a shelf at a supermarket in Hamburg, Germany, 17 November 2011.  EPA/MARCUS BRANDT

ISTANBUL - Turkey's competition watchdog has closed an investigation into Italian company Ferrero after the Nutella maker made commitments to resolve complaints from local hazelnut farmers that it was abusing dominant position to underpay them.

The Turkish Competition Authority had opened the probe against the company in 2022 after farmers said Ferrero was paying meagre sums for their hazelnuts and then selling its products at significantly higher prices.

"The investigation against (Ferrero's Turkish subsidiary) has been concluded with commitments that have resolved the competition problems that were raised," the competition authority said in a statement on Thursday.

Ferrero said Friday it "welcomes the closure of the investigation and confirms its commitment to operate in Turkey by buying in-shell hazelnuts not below the intervention reference price."

The Turkish Competition Authority had opened the investigation into the Italian giant, which also makes Ferrero Rocher chocolates, in 2022.

Ferrero in 2022 employed more than 1,000 people in Turkey, the world's largest hazelnut producer, where the company has been sourcing hazelnuts for more than three decades.

In 2023, Turkey exported more than 280,000 tonnes of hazelnuts, worth $1.86 billion, according to the trade association.

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