Analysts say the revenue from the export of Ukrainian walnuts in 2020 decreased by 19% in the first 9 months of this year. During this period, the export of nuts in shell and walnut kernels brought Ukrainian exporters only $60.9 million, which is the lowest revenue in the last three seasons.
Due to the current pandemic, the demand for walnuts has decreased. In addition to the decline in export volumes, there have been changes in the geographical structure of Ukrainian walnut exports.
One noteworthy decline in export volumes was due to a sharp drop in the supply of walnuts to Turkey. The decrease in supplies for the first 9 months of 2020 was 60% compared to that of 2019. Supplies to Belarus, Greece, Romania, Lebanon, the United Arab Emirates and Georgia also dropped significantly. In regards to the decline from Georgia specifically, however, EastFruit wrote previously about the prospect of Georgia turning from a net importer into a net exporter of walnuts.
Georgia: new competition for Ukraine and Moldova
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.
According to an article on east-fruit.com, 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.