News
Georgian Government insures prices on nine basic food products
“We believe that providing population with the daily information on food supplies in the country and measures we are taking to ensure, that there is no disruption in the food supply chain and prices are adequate and affordable is of utmost importance.
Under the Prime Minister's instruction, we are working on emergency price control mechanism which includes 9 basic food products: rice, pasta, sunflower oil, flour, sugar, wheat, milk powder, buckwheat and beans.
We offer major importers and distributors a mechanism for foreign exchange risk insurance. We will use a fixed exchange rate system to insure the difference between a specific price and a particular exchange rate. Large suppliers will be compensated for maintaining prices and not increasing costs for 9 most consumed products on which the most part of the population relies.
We have reached an agreement, therefore, we are ready to operate the mechanism and the price control in supply chain links, furthermore, we will carry out strict monitoring to ensure that some operators do not make speculative price increases.
As for supplies, we have major food supplies in the country. There were delays in the delivery of some products caused by panic buying or climate change concerns. Today, the weather is significantly improved;
The road clean-up is underway throughout the day, thenceforth, cargo will be transported inland from Lars. The situation will be improved on the Black Sea as well. Subsequently, food products will be unloaded from ships. Ultimately, there is no reason for food shortages and price increases. Georgian Government gives recommendations that should be taken into account by all citizens. ” said the Minister of Environmental Protection and Agriculture, Levan Davitashvili