Ferrero Puts out Hazelnuts Plantations in Georgia for Sales

The Ferrero company management has taken the decision to sell its hazelnuts plantations in Georgia.

The company’s affiliated company AgriGeorgia has already sold 1,500-hectare plantations. This information is approved by the Georgian Hazelnuts Producers Association.

Namely, AgriGeorgia has sold the plantations in Abasha, Martvili, and Senaki District of Samegrelo Region. The Association supposes that the company is selling second-line plantations and maintains the plantations in Zugdidi, Tsalenjikha, and Khobi.

According to another piece of information, Ferrero is set to withdraw from the Georgian market. Business Partner has contacted the Georgian representation of Ferrero, but AgriGeorgia abstained to make comments on the issue. Ferrero Trading LUX S.A appeared in Georgia in 2007and established LLC AgriGeorgia. The company bought hazelnuts plantations in Samegrelo Region and built a processing enterprise. According to the company’s financial report, in 2018 the company launched an optimization program to ensure premium-quality production and profitability of production.

The program calls for maximal use of 2,000 hectares and extracting the useless plantations of 1.5 hectares from exploitation. According to the same financial report, AgriGeorgia bears losses. In 2020, the company’s revenues amounted to EUR 4 million, down 71% compared to 2019.