this post was submitted on 09 Apr 2024
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Ferrero (the company that owns Kinder, Nutella and Ferrero Rocher) controlled one quarter of the global production of hazelnuts in 2014.
(Edited to remove some unintentionally deceptive language)
That's way too much for one company. Is it just me or does the world just keep making more and more monopolies?
That's how capitalism works.
It's just deceivingly worded. It's not like they took that much out of the total supply, taking away from others that would have needed it. Reality is that hazelnut farmers were farming them in order to sell them to Ferrero.
I guess that makes somewhat sense. But it still gives Ferrero too big of an influence on the price of hazelnuts I would guess
Or we just don't actually have that many hazelnuts. Or Ferrero just makes some really yummy stuff and hence it's bought in insane amounts.
If its such a lucrative business for Ferrero, how come there aren't competitors enough to make it so they can't hog 25%?
80% goes to the EU confectionery industry, according to what I could quickly Google. So 65% go to Ferrero like companies that aren't Ferrero.
80% - 25% = 55%
This is me, math genius. ๐
American candy manufacturing mostly uses peanuts and/or almonds instead, so they compete but not for filberts/hazelnuts.
I will also contend that they're not that good a nut on their own, they need chocolate to achieve their true destiny.
I have to downvote you on the hazelnuts not being very good. They're one of my favorite nuts, and they look cool!
To me they look like chickpeas wearing windbreakers, and I prefer pecans. But you are welcome to your own preferences, enjoy! I do think hazelnuts are the very best nut with chocolate, even over pecans.