In January 2023, Georgia has imported the highest volume of onions for January at least since 2014. Wholesale prices have gone up – which was expected. Key suppliers of onions were Georgia’s immediate neighbors. EastFruit’s analysts have researched both the statistical data and stakeholders’ opinions.
EastFruit’s price monitoring tool shows that the wholesale prices of onions are at record-high levels in Georgia. A kilogram is sold for 2.3 GEL ($0.87) on average. Similarly to the import volume, such price is more appropriate for the end of the season.
The spikes in imports and the prices are explained by low stocks of onions in Georgia. Increased demand due to the influx of Russian citizens should be no surprise. In addition, buying in advance should also be a significant factor here as there are pressures for the prices to rise globally and countries in the neighborhood are already acting cautiously. Kyrgyzstan, Tajikistan, Uzbekistan, and Kazakhstan have all either banned or limited onion exports or are considering doing so.
Georgia has imported onions from three neighbors in January 2023.
For more information: east-fruit.com