October figures for Georgian hazelnut exports are not very favorable

Published 2022년 11월 7일

Tridge summary

In October 2022, Georgia's hazelnut exports experienced a significant decrease of 30% year-over-year, amounting to $14 million. This decline is attributed to adverse weather conditions reducing product volumes and quality, alongside a global economic downturn caused by the war in Ukraine. The export data includes a notable shift towards increased inshell hazelnut exports, which rose by 8% in value despite a 40% drop in kernel exports. The current harvest is projected to be 30% lower than the previous year, around 32,000 tonnes, while export prices have fallen by 20% since 2020. Additionally, the article touches on the stagnant market for Turkey's main producer and offers an overview of the market dynamics and producers' concerns.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

EastFruit analysts have reviewed the latest trade data and they confirm reports of weak exports. In October 2022, Georgia exported $14 million worth of hazelnuts, which is 30% less than in the same month of 2021. Monthly export of hazelnuts from Georgia, $ million The export of the kernel still dominates the export of Georgian hazelnuts, but this time its share is not so large. Inshell hazelnut buyers from Italy are again active. Kernel exports were $9 million, while inshell hazelnut exports jumped to $5 million in October 2022. On an annualized basis, kernel exports were down 40%, while inshell hazelnut exports were up 8% in value. In terms of volumes, kernel volumes are down 27% compared to October 2021, but inshell volumes are up 12%. Key factors remain unchanged. The most significant local problem is the decrease in volumes and quality of products due to adverse weather conditions. Reduced supply usually leads to higher prices, but this is not the case this season as demand ...

Source: Eastfruit