As of today, the State Material Reserves Agency under the Ministry of Emergency (MOE) begins to purchase grain for the Grain Fund. According to the Ministry, preparation continues until September 1 through a number of elevators and mills. The grain will be purchased from local producers at the price of 250 manats per ton. The main requirement is compliance with the "Rules of the content and use of the State Grain Fund 'grain quality indicators approved by decision of the Cabinet No 105 of July 7, 2009. Price may vary depending on the grain market conjuncture. The Ministry spokesman Ogtay Bayramov told Turan that last year the State Fund did not purchase the local grain corn. The reason was the low level of the quality of local grains. The entire stock of grain was purchased from Russia and Kazakhstan.
The purchase is carried out by Sangachal and Ganja grain elevators of MOE, Ltd Takhil Absheron, Davachi-Deyirman, Karat Holding, Carmen, Ganja-Deyirman, JSC Baki Guliyev Takhil, Avesta Ltd., Company Neon, the small business EL, the firms Pak Nur, Khirman, Rashad Ltd. and Sphinx. --08D--
Economics
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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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