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According to Turkish media reports on November 15, local time, the Turkish competition authority has launched an investigation into Italian chocolate manufacturer Ferrero.
Turkey's competition authority has received allegations against Ferrero that its actions in the Turkish hazelnut market from production, procurement, processing and export violate competition protection laws. The Turkish competition authority decided to launch an investigation into the allegation.
In July, Turkish President Recep Tayyip Erdogan announced a benchmark price of 54 lira per kilogram for hazelnuts in Turkey, while Ferrero said it could only buy hazelnuts at 48 liras. In response, the mayor of Ordu, Turkey, Güler, issued a statement accusing Ferrero of trying to monopolize Turkey's hazelnut industry.
Turkey produces hazelnuts that account for about 75% of the world's hazelnut production and is the world's largest exporter of hazelnuts. The city of Ordu is an important hazelnut producing region in Turkey. Ferrero has been a major buyer of Turkish hazelnuts.
(Editor: Yin Zi)