EastFruit analysts note that May was more or less successful for Georgian hazelnuts. Exported quantity is quite good compared to previous years, but it is worth noting that Georgia generally sold most of its hazelnuts before May in previous years. Exporting unusually high quantities in May 2022 came at a price though – hazelnuts had to be sold cheaply.
Georgia exported 1350 tonness of hazelnut kernels in May 2022, 3 times higher than in May 2021 and top volume for May since 2016. Demand on remaining in-shell hazelnuts has died. At the start of the season, Georgia was heavily exporting in-shell hazelnuts, but the exports have dramatically reduced. In May 2022, Georgia exported only 43 tonness of in-shell hazelnuts.
Given the situation on global markets, crisis in Turkey and limited demand, Georgian export prices have reduced.
FOB prices from the trade data have reduced to $4.90 per kilogram, 18% lower than a year before and 6% lower than in April 2022. This is the lowest monthly average price observed in at least last 9 years .
Looking ahead, strong exports and strong prices are not likely. There are significant stocks on the market, which push the global prices down. Turkey is still in crisis. Quality of Georgian stocks of hazelnuts is not appropriate either. This reduces both, chances of exporting and chances of getting good prices. Stocks are likely to remain high at the end of the current season. Forecasts about the new season from the local sources should be available this week.
So far, this season (August-May), Georgia has exported 16.7 thousand tonnes ($92.7 million) of hazelnut kernels, and 7.7 thousand tonnes ($21.2 million) of in-shell hazelnuts. It is worth noting that export statistics for both kernels and in-shell hazelnuts are inflated due to rejections at EU borders. Through August-May, this season had 27 rejections due to Aflatoxins. For comparison, there were 12 rejections in total in previous season, East-Fruit reports.
See all the news
What regime of sanctions applies to Russian oil and what requirements Georgia has to comply?
Financial Services in CAREC
#TheCheckpoints: TIWB & Georgia - Interview with Rusudan Kemularia, Head of TIWB Secretariat
#TheCheckpoints: The Professional - Demnagram_Story of Saba Bakhia
#პროფესიონალი: საბა ბახია
Stoli® Group to Release Limited-Edition Bottle in Support of the Ukrainian People
როგორ მოხვდა 17 წლის ანასტასია ლელაძე ჰარვარდში? - ანასტასია ლელაძე ქალების ნარატივში
"Literally the whole village was waiting for the first harvest of strawberry" - Kvitsiani family from Svaneti
Aliyev replaces long-serving central bank head with loyalist
Putin imposes visa restrictions on citizens from 'unfriendly' countries
BMG-ს მედია რუბრიკა: #პროფესიონალი - გიორგი მიქაია
ყველაზე სანქცირებული რუსი ოლიგარქები
Business Leaders Council by USAID and Georgian Business
ვინ არის მსოფლიოში #1 სნაიპერი “Wali”?
ბინების ქირის ფასი 50%-მდე გაიზარდა
OECD formally terminates the accession process of Russia
"Today we are all Ukrainians"- Zurab Pololikashvili
Tourism is the main bridge for building understanding - ZURAB POLOLIKASHVILI
FAQ’s and Analysis on Lari & FDI - Interview with Fady Asly