For the nine months of this year, imports of food products in Azerbaijan decreased by 8.1% to $ 711.7 million primarily due to lower supplies of grain.
In January-September 2012 the share of food products in imports was 10.5%, the State Customs Committee told Turan.
In the period, cereal imports totaled $ 173 million, which is 12% less than last year. Also fell sharply shipments of wheat flour. If in January-September last year imports of flour were $ 57.1 million - for the same period this year the figure was $ 1.1 million.
This year also decreased meat imports (-14.5%) and milk imports (-30.3%) and amounted to $ 13.1 million and $ 4.9 million respectively.
This year Azerbaijan exported more vegetable oils than imported. For the nine months of this year, imports of vegetable oil were around $ 111 million, while exports totaled $ 144.4 million. The market operator of vegetable oils in the country is Azersun Holding, which produces the refining and packing of vegetable oils.
This company has a monopoly in the sugar market. For the nine months, the country imported sugar for a total of $ 119.7 million, which is 54.7% more than in the comparable period of 2011. - 08D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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