Georgia: The head of the Georgian Bread Manufacturers Union, Malkhaz Dolidze, stated on Monday that the product’s cost in Georgia is not likely to increase until the end of May, following a recent particle rise.
Dolidze stated that the Union had announced a GEL 0.2 rise for the month, with a GEL 0.1 increase already in place. He emphasised that no more rises are expected this month and that the local market will have a two-month supply of flour. He also stated that the flour stock would be replenished with Georgian wheat.
Georgia’s wheat harvest has grown by 30% compared to the previous year. Furthermore, deliveries have not stopped- a million flour-laden trucks are entering Georgia,” Dolidze stated.
The Union’s head also went on to say that the country was in a pre-harvest period and pointed out that “wheat-related problems” had arisen around the world, citing the ongoing hostilities in Ukraine as a factor and stating that the floating customs tax imposed on wheat but not flour had caused “some problems” with the former.
The Georgian Wheat and Flour Producers Association’s Executive Director, Levan Silagava, stated wheat stockpiles in Georgia were depleted, and mills in the nation were anticipated to close.
He further stated that the Association wished to meet with Georgian Premier Irakli Garibashvili to discuss the problem, stating that a tripartite working group encompassing the ministries of economy, Finance, and Agriculture had “exhausted itself.”
Georgian Agriculture Minister Otar Shamugia stated in March that the country has the capacity to expand its wheat self-sufficiency to 50%.
Georgia bought 367,000 tonnes of wheat for $93.5 million in 2021, including 338,000 tonnes from Russia, costing $87.4 million and 24.4 thousand tonnes from the United States, worth $4.6 million.
Georgian wheat production increased by 32.9 per cent in the past year, amounting to 136,100 tonnes.