Wheat price in the world is getting cheaper, but flour price in Azerbaijan is getting more expensive

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%.

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).