Turkey’s Competition Authority has ended an investigation into Italian company Ferrero after the producer of Nutella made commitments to resolve complaints from Turkish hazelnut farmers that it was exploiting its position to underpay them.
The competition watchdog opened an investigation into Ferrero in 2022 after farmers said the company was paying paltry sums for their hazelnuts and selling Nutella 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 on Thursday.
Ferrero said on Friday it “confirms its commitment to operate in Turkey by buying in-shell hazelnuts not below intervention reference price.”
The company in 2022 employed more than 1,000 people in Turkey.
Turkey is by far the largest producer of hazelnuts worldwide, and Ferrero has been sourcing the product from the country for more than three decades.
The trade association reported that Turkey exported more than 280,000 tons of hazelnuts worth $1.86 billion in 2023.
