Giorgi Todua, the executive director of the Nut Producers’ Association in Georgia, has shared valuable insights about the upcoming nut market trends. He anticipates that by the end of August and the beginning of September, the price for high-quality nuts will likely range between 6 and 7 Georgian Lari (GEL) per kilogram. He expects the price for lower-quality nuts to be around 3 to 4 GEL per kilogram.
Todua pointed out that Turkey holds a significant stake in the global nut market, supplying 70-75% of the world’s nuts. This prominent role gives Turkey the power to influence nut prices worldwide. Notably, Turkey is preparing for a normal hazelnut harvest this year, which will contribute to the pricing dynamics.
The executive director revealed that Turkey is set to announce its official nut prices shortly, which will provide more accurate insights into the pricing situation in Georgia.
Todua advised farmers who have applied appropriate agricultural practices and are expecting a bountiful harvest to expedite the harvesting process and ensure timely drying to prevent spoilage. He further recommended that those with high-quality harvests hold off on selling their nuts for the time being, suggesting that waiting for the Turkish price announcement could be beneficial. He identified the prime window for selling quality nuts as the end of August through September.
With Turkey’s average nut yield typically at 50%, Todua calculated that the difference between Turkish and Georgian prices would be approximately 1 to 1.5 GEL.
He also highlighted the positive trend in Georgia’s hazelnut production. Compared to the previous year, the country has witnessed a 30% increase in yield and a notable improvement in quality.
In 2022, Georgia’s hazelnut production totaled 40,000 tons, with 80% falling into the low-quality category. However, the outlook for the current year is optimistic, with an expected harvest of at least 50,000 tons. It’s anticipated that around 70% of this harvest will consist of premium and top-quality nuts.
Only 10% of the harvest has been completed so far.