According to the market research of nut crops of TBC Capital, in 2021, nut crops worth of $118 million dollars were exported from Georgia, which is 26% higher than the figure recorded previous year. 97% of the total value of the nut export is the export of nuts. Although the demand for nuts is high in the international market, Georgia is still poorly represented in the global arena. In order for Georgia to grasp the potential of the international market, it is necessary to achieve stability in the production of nuts, both in terms of quality and production volume.
In the case of nuts, the demand in the domestic market is significantly higher than the production, simultaneously, the price is higher than in the world market, therefore, so far, the entire production is consumed locally. Demand is high for both raw and processed nuts. Nuts are also imported to meet the local demand. However, in a few years, with the increase in production, the export of nuts will become more relevant. Following the growth of world production, Georgian nuts will have to enter a very competitive market.
Almonds and pistachios are relatively new crops for the Georgian market. Due to the small volume of production, these crops have not yet been exported. Demand for these crops in the local market is relatively low and small amounts are imported. Georgian almonds are already sold in the local market, while pistachios may appear next year.
The market of nut crops is quite competitive and at the same time promising, which is why the interest in this field is growing year by year, both in the world and in Georgia. Trade in nuts accounts for 0.11% of the world trade. In 2020-2021, nut exports in the world increased by 7%. In terms of value, it reached $ 20 billion in 2021.
Georgia’s top trading partners by nut exports were the United States ($8.1 billion), Turkey ($1.8 billion), Iran ($943 million), China ($907 million), and Spain ($897 million). Their share in total exports is almost one third.
Europe is one of the largest producers and exporters of nut crops, and at the same time it is also the leading consumer of nut crops. For Georgia, Europe is one of the most important trade partners in the direction of nut crops.
0
0
