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Georgia may increase bread prices

Business Materials 21 January 2011 14:50
Bread prices may increase in Georgia, the head of one of the country's largest wheat-import companies told media today.
Georgia may increase bread prices

Georgia, Tbilisi, Jan. 21 / Trend N. Kirtskhalia /

Bread prices may increase in Georgia, the head of one of the country's largest wheat-import companies told media today.

Head of Agricom Koki Osipov said prices will increase if wheat prices continue to grow over the next 1.5-2 months on the global market.

"Today, the average price on Ukrainian wheat is $350 per ton. If the price increases continue for 1.5-2 months, then the price of flour will grow in Georgia," he said.

Osipov added that a poor harvest among big importing countries is the main reason for the increase in international prices.

However, Osipov said the situation cannot be called "dramatic."

As for Georgia, the country has imported about 90,000 tons this year, which will provide the country for three months, he said.

Wheat is mainly imported from Ukraine, Hungary and Germany. The stock will be replenished from France in the near future. If prices significantly rise in on European wheat, Georgia will commence imports from the United States.

Georgia needs about 35,000 tons of wheat monthly.

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