. 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 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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