Georgia will increase additional duty on flour imports by 25%

The Georgian government has decided to increase by 25% the temporary duty on imports of wheat flour to support local producers. This was announced by the Deputy Minister of Agriculture of Georgia Tengiz Nasaridze.

“In recent months, a tendency of flour import growth has been revealed, caused by unstable price formation, excessive harvest in the world. Taking this into account, we have decided to increase by 50 GEL (about $19.2) the import duty on [1 ton of] flour, which will total 250 GEL (about $96),” Nasaridze said following the results of the past government meeting.

The deputy minister also said that it was decided to introduce additional duties on imports of barley and bran in the amount of GEL 100 (about $38.4) per 1 ton. According to Nasaridze, this will help local wheat producers to sell their products at acceptable prices. He emphasized that the decision to increase import duties will not affect bread prices.

According to Nasaridze, the term of the additional duty on import of wheat flour will be extended until March 1, 2024.

Tags: Flour, Georgia