Jener Belkania, director of the nut processing enterprise Geo-Nuts, talks about the hazelnut's low prices.
As he told "Business Morning", this year hazelnut harvest exceeds consumption by 15% on the world market, which is the main reason for the low price.
"Compared to the last year, the price of nuts is lower this year, which is caused by several factors. The main thing is the huge harvest that came to Turkey. However, another factor is the difference between currencies. This year, in general, the harvest exceeds consumption by 15%.
Average nut price ranges within GEL 4-5, while the price for high-quality nuts totals to GEL 7-8 but unfortunately such nuts are only available in Kakheti and less in Samegrelo," says the director of Geo-Nuts.
As for the quality of nuts, according to him, about 50% of the harvest has low quality.
"About 50% of the harvest has a low quality, and against this background, we do not expect a special price increase. The market situation may change if the price of hazelnuts in Turkey increases because Georgian hazelnuts are tied to Turkish ones, but this is less supposed today," Jener Belkania said.
