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Banana price soars in Georgia

Banana price soars in Georgia

The price of 1 kg banana has increased by 1 GEL in Georgia, with it now amounting to 4.5 GEL.

Banana price growth has been related to depreciation of the national currency and an increase in its price on the world market.

The largest banana producing and exporting country in Ecuador. According to the FAO statistical data, in 2018, 6.646 tone of bananas were exported from the country, with this amounting to 34.6% of the world export. In Ecuador, the price of 18 kg banana box has increased by around $7-8. This resulted in a rise in banana price in Georgia too, with the existing price substantially exceeding that of determined by the government of Ecuador.

The demand for banana has increased over years in Georgia with this leading to increased imports. In January and August of 2019, the imported banana price equaled 14.597 million USD. 

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