AGRIndex – October Review

AGRIndex – October Review

The FINANCIAL -- The AGRIndex increased with moderate +1.4% in October 2017 compared to the September 2017 and the biggest share of this increase came from the gain in VEGETABLE (+11.2%) prices. DAIRY (+2.7%) products and FRUIT (+0.1%) became also expensive in m/m terms, while MEAT (-0.5%) lost prices in October for the first time since JUNE 2017.

Contrary to the m/m AGRIndex, y/y change in the AGRIndex was significant +11.6% and equaled to similar change in September 2017.

Highest increase: In October 2017 prices of Georgian tomato increased sharply, but it was potato that pushed the VEGETABLE prices up the most compared to September 2017. The production figures for this year are not available yet, but the trade data might reveal why potato prices are on rise — the volume of exported Georgian potato increased roughly sevenfold in January-September 2017 compared to the same period of 2016, while the imports had declining trend.

Highest drop: Citrus fruit on average lost one fifth part of their value in October 2017 compared to September 2017 and the availability of early citrus fruits on national market, paired with the start of active citrus harvest season seem to play the role . Additionally, according to Mr. Avtandil Meskhidze, the Minister of Agriculture of Autonomous Republic of Adjara, it is expected that the share of standard quality mandarin is higher this year than it was in the last one .