Economy

Georgia’s Nut Market Shows Decline in Exports

Georgia, February 29, 2024: The Georgian Competition and Consumer Protection Agency (GCCPA) implements the market monitoring of nuts. In their recent interim report, findings reveal a notable shift in the country’s nut export landscape.

According to the interim report, the larget export volume of nuts was recorded in 2021 and amounted to 365.6 million GEL. In 2022 and 2023 the export value index has been reduced to 276.8 million and 218.2 million GEL.

Despite a very good performance in 2021, subsequent years witnessed a decline. In 2022 and 2023, export values dropped to 276.8 million and 218.2 million GEL respectively.

Considering the total market share of large companies and the number of other economic agents, the market is low-concentrated. The total shares of 5 large companies in the study period would not exceed 47%, there is no dominant economic agent fixed on the market and also, there is no place for one of the necessary conditions for the existence of a group dominant position as market shares.

This suggests a diverse competitive landscape without the dominance of any single economic entity. Furthermore, the absence of a dominant market player precludes the formation of a group’s dominant position, ensuring fair competition among market participants.

The export of nuts, encompassing both scrubbed and unscrubbed varieties, forms a significant component of Georgia’s trade portfolio. Notably, the export volume of cracked nuts accounted for a substantial portion of total exports, fluctuating between 68-81% from 2020 to 2023. Italy and Germany emerged as key export destinations, with 32% and 20% of total exports respectively, underscoring the importance of European markets in Georgia’s nut trade.

Despite challenges posed by fluctuating export volumes, Georgia’s nut market remains resilient and competitive. With ongoing market monitoring efforts by regulatory authorities, stakeholders can expect continued transparency and fair competition within the industry.

 

Zurab Kvaratskhelia

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