News

Russia: How will the extension of the import duty on flour in Georgia affect flour millers

Wheat Flour
Published Mar 1, 2024

Tridge summary

The Georgian government has extended the temporary duty on flour imports until September 1, 2024, to boost the competitiveness of Georgian wheat and facilitate its sale in the local market. The duty, initially set at 0.2 lari per kilogram for imports of more than 200 kilograms of wheat flour, was increased by 25% to 0.25 lari per kilogram until March 1, 2024. This measure was introduced in response to Russia's floating duty on wheat, which had created unequal conditions for Georgian flour mills and farmers, and has helped stabilize the wheat and flour market, reducing the cost of flour significantly compared to the previous year.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Thanks to the introduction of the duty, today three industries in the country are working properly, said the head of the Association The stable situation on the wheat and flour market in Georgia will continue amid the extension of the temporary duty on flour imports, said Levan Silagava, executive director of the Association of Grain and Flour Producers of Georgia. The government has extended the validity of the resolution on the introduction of a temporary duty on flour imports, which has been in effect in the country since June 12, 2023, until September 1, 2024. 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. According to him, thanks to the introduction of the duty, today three industries in the country are working properly. In particular, this applies to wheat ...
Source: Zol
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