Wholesale prices for onions in Georgia reached a record high and imports are abnormally high

Published 2023년 2월 2일

Tridge summary

In January 2023, Georgia imported a record-breaking 3,500 tons of onions, a 35% increase from the previous month, making it the largest January import since 2014. Despite slight increases in import prices and changes in the exchange rate, local wholesale prices have significantly risen, reaching an all-time high of 2.3 lari ($0.87) per kilogram. This surge in imports and prices is due to low domestic stocks and increased demand, especially with the influx of Russian citizens. The main suppliers were Azerbaijan and Russia, while imports from Turkey, the usual main exporter, made up only 13% of the total. There are concerns about potential restrictions on onion exports from neighboring countries, which could further increase prices, and some stakeholders have reported that imports from Azerbaijan have stopped, leaving Georgian importers to find other sources.

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

Original content

In January 2023, Georgia imported the largest volume of onions in January since at least 2014. Wholesale prices have risen - which was to be expected. The main suppliers of onions were Georgia's immediate neighbors. EastFruit analysts studied both statistical data and the opinions of stakeholders. Data source: Ministry of Finance of Georgia In the first month of 2023, Georgia imported 3,500 tons of onions. Usually during this period of the month, imports are about two times lower. On average, monthly imports rise to 3,500 tons in May rather than January. May is the end of the onion season in Georgia and a period of scarce supplies from Georgian suppliers. The increase in imports in January 2023 compared to December 2022 is 35%. Compared with the previous month, import prices from official trade statistics rose slightly in January. However, changes in the exchange rate completely offset this effect. Meanwhile, local wholesale prices for onions have risen significantly. The ...

Source: Eastfruit