Four of Georgia’s major egg producers have announced a 5% price reduction, citing an initiative by Georgian Dream Prime Minister Irakli Kobakhidze to curb high food prices, according to a joint statement issued on February 6.
“This decision is made in consideration of the Georgian Prime Minister’s initiative related to reducing food prices,” said Savaneti, Dila, Koda, and Kumisi, companies of the Poultry Development Association, adding that they “fully support state policy aimed at lowering prices and improving the social conditions of the population.”
Kobakhidze first raised concerns over high consumer prices in late December, suggesting that price hikes may stem from cartel-like coordination among retailers and warning that anti-monopoly measures could follow.
That same month, the Georgian Dream government established a commission to examine price formation, which has held meetings with representatives of retail chains, distributors, pharmacies, and the oil sector. In parallel, the State Security Service of Georgia launched an investigation into price formation, entering supermarket chains and distribution companies and seizing documents, while a separate temporary commission was set up in February in the disputed parliament to study food, medicine, and fuel prices.
The egg producers acknowledged that the price cut entails risks to profit margins, noting that slight price fluctuations may occur throughout the year depending on global raw material costs. However, they said such risks could be mitigated through “coordinated efforts.”
The companies added they anticipate that “the government’s active engagement with the retail sector toward reducing markups will have an impact on the final price and accessibility of products.” They expressed readiness to “contribute to the formation of stable and fair prices on the market.”
In November, some expressed concerns about a possible egg shortage in Georgian supermarkets. However, Zurab Uchumbegashvili, co-founder of Kumisi and head of the Poultry Development Association, dismissed claims of a deficit, attributing reduced shelf availability to a decline in egg imports from Turkey. In January, egg prices increased by approximately two to two and a half tetri, Uchumbegashvili confirmed to Business Media.
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The post Georgian Poultry Companies to Lower Egg Prices Citing ‘Prime Minister’s Initiative’ first appeared on The South Caucasus News – SouthCaucasusNews.com.
