. As of October 24th, Azerbaijan picked 41.8 thousand tons of cotton, 1.6 times more than in the comparable period of 2015, according to the weekly report by the State Statistics Committee.
The cotton growers of the Saatli region are the leaders. They passed the ginneries 6,354 tons of "white gold" as it is called again in Azerbaijan, following the example of the Soviet era, after the "dark days" of oil, the lower prices for which made life difficult for Azerbaijan.
This year, cotton was planted on more than 52 thousand hectares, 2.8 times more than in 2015. The government expects to collect 20 quintals of raw cotton per hectare. However, the cotton harvest started late and the weather does not help its rapid completion.
The purchasing prices of cotton in Azerbaijan are up to AZN 400-500 per 1 ton this year. In addition, farmers receive from the state AZN 90 per hectare of cultivated land and AZN 100 per ton for the raw cotton passed to the ginneries. However, independent experts say cotton is not the most suitable product that could replace oil revenues and provide employment and a decent life in the rural regions. ----08B
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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