Market Trends & Demand
GEORGIA’S ANNUAL AVOCADO IMPORTS CROSS MILLION DOLLAR MARK FOR FIRST TIME.
Avocado consumption is on the rise in Georgia, according to analysts. The country has seen a significant increase in avocado imports over the past few years, with the annual import value surpassing $1 million for the first time in 2022. This trend has continued into 2023, with the first two months showing even stronger demand.
It’s important to note that there is little to no local production of avocados in Georgia, so the import statistics reflect the country’s total demand for the fruit. Avocado imports have been steadily growing since 2014, with volumes increasing by an average of 46% each year. The import value in US dollars has also been growing at a rate of 33% per year.
However, there was a significant jump in 2022, with annual import volumes increasing by 2.5 times from the previous year. This is likely due to an increase in Russian visitors to Georgia and the country’s economic recovery from the COVID-19 pandemic, which boosted local demand for avocados.
Currently, Georgia imports avocados only from Turkey and the Netherlands. Turkey has gained a dominant share of the Georgian market, accounting for 65% of avocado imports in 2022, with the rest supplied by the Netherlands.
Recent statistics suggest that the demand for avocados in 2023 will continue to increase. In the first two months of the year, Georgia imported 215 tonnes of avocados, 2.2 times more than the imports during the same period in 2022. Avocado imports peak around the New Year holidays, with 36% of the annual imports occurring during the last quarter of the year. The first three quarters of the year account for 20-23% of the annual import volume.
Data source: Ministry of Finance of Georgia.