News

Georgia extended the duty on imported flour from Russia

Wheat Flour
Published Feb 29, 2024

Tridge summary

The validity of the Georgian government's decree on the introduction of a temporary duty on flour imports has been extended until September 1, 2024. In order to support Georgian farmers who have problems selling their grain harvest due to a lack of demand for it, from June 12 to November 1, 2023, imports of more than 200 kilograms of wheat flour were taxed at the rate of 0.2 lari per kilogram. The government said the purpose of introducing the duty was to increase the competitiveness of Georgian wheat. Georgia consumes approximately 800 thousand tons of flour throughout the year. Most of the wheat flour consumed (approximately 78%) comes from Russia.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Georgia consumes approximately 800 thousand tons of flour throughout the year, most of which comes from Russia The validity of the Georgian government's decree on the introduction of a temporary duty on flour imports has been extended until September 1, 2024, according to the government decree on the website of the country's Legislative Bulletin. In order to support Georgian farmers who have problems selling their grain harvest due to a lack of demand for it, from June 12 to November 1, 2023, imports of more than 200 kilograms of wheat flour were taxed at the rate of 0.2 lari per kilogram. In October, the deadline was extended until March 1, 2024, and the duty was increased by 25%. The government said the purpose of introducing the duty was to increase the competitiveness of Georgian wheat and facilitate its sale on the local market. The government made this decision on the condition that the sector would not allow the price of bread to rise. Georgia consumes approximately 800 ...
Source: Zol
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