On June 6 the Cabinet of Ministers again considered the question of subsidies to agricultural producers for the cultivation acreage. According to the decision, in addition to grain and rice producers additional subsidy of 40 manats per cultivated hectare is granted to producers of tobacco and cotton.
In addition, agricultural producers, along with mineral fertilizers and herbicides, at discounted prices, i.e. with payment of 30% of the cost, will be marketed biological humus produced on an industrial basis.
The upper limit of the total amount of benefits applied on the value of sales of fertilizers and biological humus per hectare of area under crops and perennial plantations is established in the amount of 100 manats. Previously, this amount was 80 manats. The upper limit of the total amount of benefits applied on the value of pesticide sales is 10 manats.
Sale of herbicides at 70 per cent discount is suspended.
Note that since 2007 agricultural producers have been paid a subsidy in the amount of 50 manats per hectare of crops. --08D
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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