Despite the decline in acreage by one-third, and stable domestic purchase prices, Azerbaijan raised this year's cotton harvest by 16% more than in the same period of 2011.
According to the committee, as of November 1 Azerbaijan collected and transferred to ginneries 48.9 thousand tons of raw cotton. This is 7,000 tons more than in the same period of 2011. An expert of the Ministry of Agriculture Rovshan Aliyev told Turan this year cotton yield is high, which is also associated with the use of productive varieties. In addition, private companies use more than 35 cotton harvesters purchased in the U.S. It is expected that by the beginning of December the country will collect about 55,000 tons of cotton.
A ton of cotton in Azerbaijan is purchased at the price of 420 manat. Farmers claim that due to the cost, profitability of the industry is extremely low. However, because of the crop rotation, farmers are forced to grow cotton too.
In 2011, cotton in Azerbaijan was grown on 42.8 thousand hectares and the crop totaled 66.4 thousand tons. The yield from 1 ha averaged 15.5 quintals. This year, the yield increased on average by 1.3 quintals per 1 ha. - 08B -
Economics
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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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