In the first 2 months of this year, wheat worth $ 16.2 million was delivered to Azerbaijan This is 6.7 times less than in the same period of 2015.. This is stated in the report of the State Customs Committee.
The volume of these imports is not reported.
In an importer, which also has a flour mill, they said that the reason for the sharp reduction in the supply is the increase in purchase prices in Russia in terms of dollars. "Whereas 20 days earlier, Russian wheat was offered on the customs border for $ 163 per ton, now the prices have reached $ 180. At these prices, the retail price of flour and bread will be unprofitable for manufacturers," said the source.
At the same time, the company noted that stocks of wheat in the country are sufficient to not revise the prices in force. "Everything will depend on the rate of the Russian ruble."
In 2015, Azerbaijan purchased abroad 1 million 353 thousand tons of wheat worth $ 296.8 million. --08B
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review