BAKU, Azerbaijan, November 4
By Tamilla Mammadova – Trend:
The volume of imports of dairy products in October was one of the lowest in the past 12 months in Georgia, Trend reports via Georgian media.
At the same time, there was a record high price for imported dairy products: an average of 1.64 lari (51 cents) per liter (in the equivalent of raw milk, including the costs of processing and transportation to Georgia).
Imports amounted to 10 million liters (in terms of raw milk), which is 37 percent less than in October last year and 32 percent less than the October average for the previous 3 years.
Similar changes for skimmed milk powder were about -47 percent. The decline in import volumes, starting from the second quarter of the year, continues both for skim powder and for dairy products in general.
The downward trend in imports to Georgia is explained by a combination of an increase in its price in lari and a weakening of aggregate demand amid the pandemic.
For 10 months (January-October) of this year, the import of dairy products is still the largest. In parallel with the decrease in monthly imports (trend since the second quarter), the difference in the number of imports from previous years is becoming smaller. Attention is drawn to the reduction in imports of skimmed milk powder: 64 million liters of raw milk equivalent in 10 months, -9 percent compared to the same period last year.
The average price of imported dairy products in October was 1.64 lari per liter (the equivalent of raw milk, including processing and transportation costs to Georgia), which is the highest price in at least the last 5 years and 20 percent higher than in the previous month. This jump is mainly due to the increase in import prices for butter and skimmed milk powder in USD.
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