The Georgian Competition and Consumer Agency has announced its findings from a recent analysis, revealing there were "no risks" of breaching domestic competition laws in the exportation of locally produced hazelnuts. This conclusion came after a thorough examination of market dynamics and export data aimed at assessing the competitive landscape and the potential for market dominance by any single entity.
According to the agency, the investigation covered exports of Georgian hazelnuts, primarily to Italy (32%), Germany (20%), Armenia (7%), and Russia (4%), by between 65 and 80 companies from 2020 to 2023. The exports included both shelled and unshelled hazelnuts, with the former constituting the bulk of the country's hazelnut exports during this period.
It also provided a breakdown of annual income generated from hazelnut exports:
- 2020 - 16,675 tonnes worth ₾289.8 million ($103.88mln)
- 2021 - 23,465 tonnes worth ₾365.7 million ($131.09mln)
- 2022 - 21,848 tonnes worth ₾277.1 million ($99.33mln)
- 2023 - 16,169 tonnes worth ₾219.2 million ($78.58mln)
The study's findings indicated that no single economic agent dominated the hazelnut market, as the combined market share of the top five companies did not surpass 47 percent. Furthermore, the competitive state of the market was affirmed based on the number of active companies, their market shares, and the concentration index. Consequently, the agency deemed there was "no need for further observation" of the market.
Source: agenda.ge