Türkiye’s competitors watchdog has introduced it was ending an investigation into Italian firm Ferrero over fees that it was monopolizing the nation’s hazelnut market.
In an announcement, the Competition Authority (RK) stated the Nutella maker made commitments to resolve complaints from native hazelnut farmers that it was abusing its dominant place to underpay them.
The authority had opened the probe towards the corporate, world-famous for its Nutella unfold and Ferrero Rocher, after farmers stated Ferrero was paying meagre sums for his or her hazelnuts after which promoting its merchandise at considerably larger costs.
“The investigation against (Ferrero’s Turkish subsidiary) has been concluded with commitments that have resolved the competition problems that were raised,” the competitors authority stated in an announcement on Thursday.
Ferrero stated Friday it “welcomes the closure of the investigation and confirms its commitment to operate in Türkiye by buying in-shell hazelnuts not below the intervention reference price.”
The Competition Authority had opened the investigation into the Italian large, which additionally makes Ferrero Rocher goodies, in 2022.
Ferrero in 2022 employed greater than 1,000 individuals in Türkiye, the world’s largest hazelnut producer, the place the corporate has been sourcing hazelnuts for greater than three many years.
In 2023, Türkiye exported greater than 280,000 tons of hazelnuts, price $1.86 billion, in response to the commerce affiliation.
Source: www.dailysabah.com