Wheat and flour prices will remain unchanged until the New Year. As the head of "Wheat and Flour Producers' Association" Levan Silagava says, this is due to the record harvest of wheat in Russia.
According to him, there will be no problems in terms of wheat stock in the country for 2-3 months.
"Russia has a record harvest this year, and accordingly, the exporting amount totals to 50 million tons, which is very high. So, this is reflected on our market as well, and therefore, the import price of both flour and wheat is stable today. The selling price of 50 kg flour is within GEL70 GEL, and the import price of 1 ton of wheat is within USD 300-USD320. We can say that we will not have to worry about supplies until the New Year," Silagawa said.
The price of wheat and flour is also influenced by the "Grain Corridor" agreement, the 6-month term of which expires on November 19. Levan Silagava says that the parties (Russia, Ukraine, Turkey, UN) are now discussing the extension of the agreement for 1 year.
