Forecasts for the production, consumption and stocks of cereals around the world have decreased compared to last month. What are the expectations?

According to the State Statistics Committee, from January to September 2024, agricultural production in Azerbaijan totaled 10.4185 billion manats, marking a 0.8% increase compared to the same period last year.

The “State Program for the Development of Citrus Cultivation in the Republic of Azerbaijan for 2018–2025” was adopted in February 2018. The program’s implementation period concludes this year, 2024. The document states that “the program aims to increase citrus fruit production volume to 100,000 tons by 2025.”

According to data presented by the State Customs Committee, our calculations show that in January-September 2024, the value of food imports increased by 11.4% compared to the same period last year. Specifically, during the first nine months of this year, the country imported food worth USD 1.755 billion, which is USD 179.7 million more than in the same period last year (USD 1.576 billion). Notably, this year marks the first time in Azerbaijan’s history that a record volume of food imports has been recorded. It is worth noting that over the past five years, food imports have grown by 52.5%, and over the last ten years, they have more than doubled (by 2.4 times).

The State Statistics Committee shows on its official website that in September 2024, the consumer price index in Azerbaijan was 103.5 percent compared to September 2023, including 102.9 percent for food products, beverages, and tobacco products, 101.9 percent for non-food products, and 105.7 percent for paid services provided to the population.