Food Prices in Baku Stabilized in June after Falling in May

In June, the average price of a basket of 30 types of basic foodstuffs composed by the agency Turan did not change.

This is noted in the release of a significant amount of local seasonal products into the market. Usually at this time of the year market prices steadily decline, as was the case in May when there was a reduction of 3.6%.

It should also be noted that since the second half of June Ramadan - the month of fasting came into force. Weddings are not usually carried out then, which also has an impact on pricing.

Most of all tomatoes fell (-47%). For other agricultural products cheaper were potatoes (-15%) and onions (-12.5%). Prices rose for cucumbers (+40%), apples (+30%), cabbages (+20%), eggs (+12%) and chicken giblets (+3.5%).

For other local products the prices have changed little or even remained stable, such as for beef, lamb, butter and oil of vegetable origin.

It can be expected that at the end of July the prices will rise. Changing the traditional summer deflation, inflation can occur under the increase in the export of Azerbaijani agricultural products to Russia, which has widely opened the door to suppliers after the introduction of Western sanctions.

Assistant to the Head of Rosselkhoznadzor (Russian Agricultural Control) Alexey Alekseenko said in the publication Vestnik Kavkaza that, in general, during the sanctions the Russian-Azerbaijani cooperation in the field of food imports grew strongly enough, especially given the fact that Azerbaijan also serves as a transit area for a part of the Iranian products. Azerbaijan has established itself as a reliable supplier, and we do not have serious claims to the products that it exports.

The Academician of the Russian Academy of Sciences, Doctor of Economic Sciences Elmira Krylatykh agrees with him. She also noted the increase in supply.

But it is also to be noted that the government has failed so far to optimize the opportunities of the agricultural sector, which is in serious decline, and is not able to meet the needs of the population in accordance with the currently low pay.

Finally, a negative impact on the market is still provided by monopolies by artificially maintaining high prices for products. -0--