BAKU, Azerbaijan, Feb. 5
By Tamilla Mammadova – Trend:
In the near future, the price of sugar may decrease in Georgia, Trend reports citing Georgian media.
As reported, importers attribute this to the low price of sugar in the world market. According to them, prices in importing countries are falling and this trend is affecting the local market.
In particular, since beginning of 2020, price of sugar in Georgia decreased by 5-10 tetri (1.7-3.5 cents). At the moment, the price of one kilogram is 1.30-1.35 lari (46-47 cents).
Guram Brodzeli, director of Georgian Alpha, sugar importing company, believes that this price will drop in the coming days.
"The largest suppliers of sugar to Georgia are Poland, Azerbaijan and Russia. Sugar is cheaper in these markets. Although imports have declined due to seasonal changes, they will increase in the coming months. As for the price, it is quite stable and a downward trend will be supported," said Brodzeli.
According to the International Sugar Organization, the cost of one ton of sugar on world markets is $409.
According to the Food and Agriculture Organization of the United Nations (FAO), there is a decrease in sugar reserves, which is associated with a redistribution of sugar sources for use in other industrial purposes.
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