Mamuka Beriashvili, director of Hazelnut processing company NutsGe, told TV-Program Business Morning that the sanctions against Russia would not affect the Georgian hazelnut industry because the market was diversified and its main buyers were EU countries.
"50% of our company's sales account for the European Union, and the other 50% - on almost every continent in the world, including Asia, Arab or African countries. We try not to depend on one market in order to respond to all shocks. How many factors have emerged this season alone that have some impact on the Georgian hazelnut industry? That's why we diversify sales as much as possible,” said the director of NutsGe.
As for the problems, according to Mamuka Beriashvili, the biggest problem is the lack of working capital.
"Banking system’s approach should be changed because the Georgian banking system considers the hazelnut industry as the so-called "Trading". They do not consider it as an industry. First of all, we need cheap money, cheap working capital, as well as the recognition of Georgian hazelnuts as a brand, which should bring us additional results," - said Mamuka Beriashvili.
According to the National Statistics Office, hazelnuts are among the ten major export commodities of Georgia. Last year, the country earned $ 118 million from hazelnuts exports.
