Turkish competition authorities have filed a lawsuit against Ferrero over allegations that the company has monopolized the market. Ferrero is a major buyer of Turkish hazelnuts and therefore a significant source of income for the country’s hazelnut growers, but suppliers have recently become extremely dissatisfied with prices. The company is accused of buying Turkish hazelnuts at a meager price but selling its finished products at a higher price. As the lawsuit began, hazelnut prices started fluctuating.
Turkish sources report that prices for 50% hazelnuts on the free market have jumped slightly from 43-44 TRY/kg to 45-46 TRY/kg. This is good news, but the Turkish Grain Board (TMO) still offers better prices to local farmers when purchasing hazelnuts. Depending on the quality, TMO purchase prices range from 46 TRY/kg to 53 TRY/kg. There is the hope that the price increase on the free market will go on.
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