Georgia buys record high amount of walnuts despite recent changes in production

Published 2023년 2월 8일

Tridge summary

Georgia has seen a significant surge in walnut imports over the past three months, with volumes tripling compared to the average import for the same period. This increase in demand is due to both local and migrant consumers, particularly from Russia. Despite the high demand, current productions do not yet match it. To address this gap, the Georgian government has invested $27 million in walnut production since 2015, with expectations to increase production to 40,000 tons per year by 2025, more than five times the current production. However, the influx of cheaper imports, mainly from Ukraine, Kyrgyzstan, Uzbekistan, and increasingly from China, is affecting the market for locally produced walnuts, preventing price increases despite the higher demand.

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

Original content

EastFruit analysts note the unprecedentedly large volumes of walnut imports by Georgia over the past 3 months. Research indicates an increase in local demand. Thanks to government support, Georgia has been investing heavily in walnut production since 2015. From 2015 to 2021, the total investment amounted to about $27 million, according to the government's Plant the Future program. At the same time, the total annual production (including orchards established before the state program) averaged 5.6 thousand tons per year. Interestingly, the prospects for production look very promising. At the conference organized by the EastFruit project with the support of FAO and EBRD “Nuts of Ukraine 2022: exchange of experience with Georgia”, the Association of Almond and Walnut Producers of Georgia presented its forecasts for the production of walnut orchards. The association, based on statistics provided by the ministry, expects the production of walnut farms participating in the state program ...

Source: Eastfruit