As of November 21 in Azerbaijan 72.4 thousand tons of cotton was picked, 39.3 thousand tons more than in the comparable period of 2015.
Last week the cotton growers sold 8.3 thousand tons of cotton to ginneries, according to the State Statistics Committee.
This year, cotton was planted on more than 52 thousand hectares of land in more than 20 areas. In all the cotton-growing districts there are 1 or 2 ginneries. Cotton cleaning is also carried out in Sheki Silk Plant and Ganja Cotton Yarn Plant.
The government forecast this year up to 100,000 tons of raw cotton will be picked. Cotton harvest will be completed in early December.
Cotton is bought by the ginneries at the price of AZN 400-500 per ton, depending on grade. In addition, the state provides cotton producers with a subsidy of 0.10 AZN per 1 kg.
In 2017, the field for cotton will be 100-120 thousand hectares. -----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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