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Nut Price Drops this Year

Georgian nut price will be less compared with last year. CBW was told by the Chairman of the Board of the  Hazelnut Producers and Exporters  Association Aleksandre Motserelia.

According to him, nuts have not been harvested  so far and therefore it is difficult to make forecasts, but it is already possible to predict that the nut price will fall. He says the farmers had the expectation that last year’s prices will maintain.

“Last year, the price of nut reached its historical maximum for objective reasons – a poor harvest in Turkey, while this year much higher yield is expected both in Georgia and Turkey. Accordingly, there should not be similar expectations”, says Motserelia.

He notes  work on the nut development concept has already begun, the basic outline already exists. In Motserelia’s words, at this point the average annual harvest is  60 thousand tons of nuts in Georgia. He adds it is  planned to build nut dryers in  regional centers.

“The first center will be opened soon in the village of Darcheli. Georgian nut’s main problem is still the wrong drying. Therefore, this will be the first step in this direction to fix the situation. Dried nut quality will be much better, so the farmer will be able to get much better returns,” Alexander Motserelia explains.

Motserelia says that the technical regulations will be established for the production of hazelnuts. At this stage, the project is not approved and is under discussion. As reported, doubled hazelnut harvest is expected in Turkey. According to the Turkish Hazelnut Promotion Group (FTG),  producers harvested 400 000 tons of hazelnuts last year, while this year’s yield hit the 733 000 mark. Turkey produces around 75 percent of the world’s supply.

FTG says that  90 percent of Turkish hazelnuts are exported abroad, a major part of which is purchased by European chocolate producers. Recall that last year the price of nuts was  record high in Georgia. By the end of the season nut price reached  GEL 12, while the average price is  4-5 GEL.

Nuts are among top five products  exported by  Georgia.