Potatoes lifted last year are sold in wholesale markets in Georgia at USD0.36/kg compared to USD0.43/kg in mid-February.
The Georgian currency has depreciated by about 11% over this three-week period, which is associated with the Russian invasion of Ukraine, EastFruit analysts wrote.
The depreciation of the Georgian currency did not help the export of potatoes. The Russian ruble fell even more. Georgian potato suppliers have found that exports to Russia have become unprofitable due to the collapse of the ruble.
In February 2022, potato prices were at their highest level ever, the experts added. Georgian potato producers expected even more growth, and they were not mistaken – prices rose. However, prices quickly began to fall when Russia attacked Ukraine. Now Georgian potato suppliers, who see no other export markets, expect prices to fall further. There are significant volumes of last year’s potatoes in storage.
Since the harvest in Samtskhe-Javakheti in September 2021, Georgia has exported a surprisingly large volume of potatoes – 30,000 tons.
