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Georgia increasing walnut exports – new competitor for Ukraine and Moldova

In 2019, revenue of Georgian companies from the export of walnuts in shell and walnut kernels exceeded $1 million for the first time

According to EastFruit analysts, Georgia, which for a long time was a large net importer of walnuts, began to dramatically increase the export of this product. By the end of 2019, the export of walnut kernels from Georgia increased immediately by 10 times and reached 321 tons.

This trend was very impressive despite the relatively small volume and exports are still less than imports. In 2019, the revenue of Georgian companies from the export of walnuts in shell and walnut kernels exceeded $1 million for the first time reaching $1.4 million.

Read also: Nuts rose in price in Moldova and fell in price in Ukraine, Russia and Belarus – market overview for the 6th week of 2020.

Imports of walnut kernels to Georgia decreased over the year by 11% and amounted to 1100 tons. Ukraine remained the main supplier of these products to the Georgian market, which reduced supplies by 15% from 1,200 tons to 1,000 tons.

The main markets for Georgian walnuts in 2019 were Kazakhstan, Kyrgyzstan, Russia, and Belarus. Approximately 16 tons of walnuts from Georgia were also exported to the United Arab Emirates, India, and the Czech Republic.

According to the economist of the investment department at the Food and Agriculture Organization of the United Nations (FAO) Andriy Yarmak, the export of nuts from Georgia may, over time, give the country more revenue than the export of wine. The expert believes that not only hazelnuts, which have long been one of the main export products, but also almonds, walnuts, and even pistachios can be successfully grown in Georgia. Additionally, it is likely that Georgia will be able to surpass competition on the world walnut market with Ukraine, Moldova, and Uzbekistan.

EastFruit

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