AGRIndex – January Review

AGRIndex – January Review

AGRIndex – January Review

The FINANCIAL -- Georgia started 2018 with increased prices on domestically produced agricultural produce, though the m/m change in prices was just +1.8%.

The biggest share of this increase was derived from the gain in VEGETABLE (+7.1%) prices, but in month-to-month terms, FRUIT (+7.4%) prices increased the most. On the other hand, DAIRY (-0.1%), and MEAT (+0.8%) prices were practically unchanged.

Interestingly, the year-to-year gain in the price of the AGRIndex basket was just +5.9%, which is the smallest figure since the February 2017.

Highest increase: In January 2018, domestically produced table grape prices gained roughly one-eighth of their December value. The probable reason for this change is that domestically produced grapes are already in short supply on the national market. First of all, “Rtveli” started and ended earlier in 2017 than in previous years1. Secondly, according to GeoStat, Georgia imported fewer grapes in the last year (worth 2.8 mln USD) than it did in 2016 (worth 3.0 mln USD).

Highest drop: In January 2018, the price of Georgian radish fell by almost 9%, though the prices of other Brassicaceae plants in the AGRIndex were on rise.

Daily statistics of “Rtveli 2017”