Frozen fish imports up 30%, market volume over GEL 200 million

Import demand for frozen fish in Georgia has skyrocketed. According to the latest data, the average import price per kilogram has climbed by 30%, directly affecting retail chains.

This price growth along with the country's heavy dependence on imported fish, creates new market challenges.

Import Trends and Price Increases

Frozen fish imports have changed significantly this year. After a relatively low average import price per kilogram last year (first 4 months), prices have jumped considerably this year.

Price Increase: The average import cost is up by 30%.

According to data from the past year, Iceland, Norway, and Spain are still the main frozen fish suppliers to Georgia. Price hikes are largely driven by global market trends and rising logistical costs.

Local fishing and production

Amid the country’s dependence on imports, local resources are of particular importance. Fisheries in Georgia are split into two main areas: aquaculture (mainly trout) and marine fishing (mainly carp).

Trout accounts for the largest share in domestic production. Annually, Georgia's trout output averages between 2,500 and 3,000 tons.

The Black Sea fishing quota is mainly for carp, with most of the catch going to fishmeal and oil production for export, rather than for consumption. The annual quota ranges within 70,000 and 90,000 tons.

Market Size and Consumption Trends

The Georgian fish and seafood industry is expanding, even as its self-sufficiency rate ois still low.

Experts say that the annual turnover within Georgia's fisheries sector exceeds 150-200 million GEL.

Import Dependency

About 70-80% of the nation's fish supply is imported. Local output is insufficient to cover demand for species like mackerel, hake, salmon, and other common frozen fish.

Experts foresee that if import prices keep climbing, it could boost local fish farming. However, infrastructure problems and expensive feed make it challenging for local farmers to be competitive. For now, the Georgian consumer remains the main market for imported frozen fish despite price hikes.