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Importers Preparing to Raise Prices of Products

Importers are preparing to increase prices for the products, if the exchange rate of the lari reaches  2.55-2.60 per dollar.

According to representatives of large companies, they study the results of day trading on the basis of which it will be decided whether to raise prices or leave them unchanged.

In the words of Zurab Khutsishvili, Director of the Georgian distribution company, if the national currency continues to fall, the prices will inevitably hike.

Uta Maziashvili, Direcotr of “JD – holding”, does not predict price hikes as well. He says the company currently has reserves that allow to hold prices  down . However,  if in the near future the exchange rate of the national currency drops to 2.60 per dollar, the prices will be definitely increased.

“It largely  depends on the product itself. If it is imported from Russia, it may even fall in price as Russian imports decreased significantly in value due to  the devaluation of the ruble. If products are imported from  Europe – on the contrary. However, we currently refrain from adjusting the price,” says the businessman.

Vakhtang Sadzaglishvili, CEO at “Sharm Holding” company, also  does not rule out a possible  rise in prices. He notes that the company’s management will monitor the situation in the trade, and  only then will take a concrete decision.