Tea consumption grows; there is nothing for it but to increase production

According to the State Statistics Committee, 139,500 tons of raw cotton were harvested in the first ten months of this year, a decrease of 17.4% compared to the same period last year. Notably, the amount of cotton harvested in the first ten months of 2023 was 168,900 tons (17.4% more than in the base year), while in the same period of 2022, it was 199,100 tons (59,600 tons more than this year’s figure). Thus, cotton harvest in the country has decreased by 29.9% over the past two years for the January-October period.

According to data provided by the State Customs Committee, our calculations indicate that in January-October 2024, the value of imported food products increased by 10.2% compared to the same period last year.

The State Statistics Committee's recently published report indicates that the total value of agricultural production in Azerbaijan for the January-October period of 2024 amounted to 11,407.1 million manat at actual prices. Of this, livestock accounted for 5,540.2 million manat, while crop products accounted for 5,866.9 million manat. The report shows that compared to the same period last year, agricultural production increased by 1.0 percent, including a 1.5 percent increase in livestock products and a 0.5 percent increase in crop products.

According to a recent report by the State Statistics Committee, consumer price indices in Azerbaijan for October 2024 reached 103.4% compared to October 2023. This includes increases in food products, beverages, and tobacco at 102.6%, non-food items at 102.1%, and paid services at 105.8%.