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Georgia quadrupled blueberry exports in one year!

EastFruit analysts highlight very strong exports of blueberries from Georgia. Both export volume and value were record-high for June 2023. The country may have exported more than half of its production last month.

Georgian blueberry season is active in only two months: June and July. There are practically no exports in other months. If there are no delays or some other market anomalies, the exports a bit are more active in June than in July. According to the official trade data, Georgian exports of blueberries in June 2023 reached 1800 tons.

Data source: Ministry of Finance of Georgia

In June 2023, export volumes were four times higher than in June 2022, and 35% higher than the total export in 2022.

Last year in June, there were some weather issues and minor road delays, which in combination with the volatility of the russian market, the main exporting destination of Georgian blueberries, resulted in somewhat underwhelming exports. The country exported only 425 tons, which was not an increase in year-on-year terms. This, however, was fixed in July 2022, when russia suddenly bought large amounts and Georgia exported 935 tons of blueberries. All in all, the country exported about 1350 tons of blueberries in 2022.

Read also: The Georgian National Competition Agency has begun monitoring the blueberry market

Export prices in US dollars are lower this season.

According to the official trade data, a kilogram of blueberry was exported at $6.30 on average – a reduction from $6.70/kg in June 2022. This is a drop of 6%, which grows larger if count prices in the Georgian Lari. The US Dollar exchange rate against Georgian Lari has dropped by 11% in June 2023 compared to June 2022, and thus, the export price in Lari has reduced by 17%.

Despite the reduction in the export price, export value has still gone up. This is of course thanks to the very large increase in export volume. Overall, the country exported $11.4 million worth of blueberries in June 2023, up from $2.8 million in June 2022. In this timeframe, the export value went up by 300% in US dollars and by 260% in Georgian Lari.

It is worth noting that generally, the export prices are lower in July, as early exports are valued more and the export window begins to shut down after June.

Russia still held the highest share in Georgia’s blueberry exports.

Data source: Ministry of Finance of Georgia

1675 tons out of 1800 exported in June 2023 went to russia. Shares of all other countries in Georgia’s blueberry exports were 2% or lower.

Georgia may have exported more than half of this season’s production in June.

Local stakeholders estimated the production in the current blueberry season in Georgia to be around 3000 tons. Last year’s estimate was 1500-200 tons.

Based on the estimate for the current season, the country has already exported 60% (1800 out of 3000 tons) of production in June 2023. Thus, it will be logical to anticipate reduced exports in July, and there should be no repetition of the 2022 scenario when the exports surged in July.

Overall, Georgia’s current blueberry season is already record-breaking in terms of external trade and production.

According to the Georgian Blueberry Growers’ Association, 80% of the blueberries have already been harvested as of July 10.

EastFruit

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