BAKU, Azerbaijan, April 2
Tamilla Mammadova – Trend:
Hazelnut exports brought Georgia more than $80 million in revenue in 2020, but exports could be increased, Trend reports via EastFruit portal.
As reported, Georgia is one of the TOP-5 exporters of hazelnuts in the world, although a few years ago it was its second largest exporter, but its position has dropped due to quality issues (marble bug invasion), and this increased competition from other exporters.
Hazelnut cultivation in Georgia has become a lucrative business for both small producers and large international companies, such as Ferrero in 2007, Olam in 2016 and Camille Bloch in 2020 used these opportunities.
Domestic consumption of hazelnuts in Georgia is insignificant, therefore, production is aimed at international markets. In other words, the Georgian market directly depends on the world market, which, by the way, has recently seen a growing demand for quality.
Despite the positive dynamics of exports, Georgia is one of the few leading exporters which consistently sells hazelnuts at prices below the average world price. Over the past 8 years, Georgia has exported hazelnuts on average 13 percent ($960 per ton) cheaper than the average world price.
The trend of relatively low export prices for Georgian hazelnuts has been observed for about 20 years – since 2001, the export price of Georgian hazelnuts was higher than the average world price only in 2014.
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