Production costs for agricultural products fall in Azerbaijan
In particular, production costs for annual and perennial plants decreased by 12.6 percent and 2 percent, respectively, and 1.5 percent for animals and animal products.
The committee also reported that production costs for such annual plants like wheat, pea, cabbage, melon, pepper, cucumber, eggplant, potato and onion declined, while costs for non-fermented tobacco and food plants increased in July.
Production costs for perennial plants such as cherry, strawberry, pear and blackberry increased while prices for apple, apricot, cherry-plum, plum, hazelnut, walnut and bay leaf declined.
The costs for animals and animal products such as milk, sheep, goat, as well as beef, mutton and poultry meat decreased, while costs for poultry, egg and natural honey increased.
The Statistics Committee reported that prices for consumer goods and tariffs for services in July decreased by 0.7 percent compared to June.
In June 2015, the country’s deflation rate was at 1.1 percent, and 0.6 percent in May.
Agriculture is a meaningful component of Azerbaijan's non-oil economy and has significant potential for boosting the country’s export revenues, while attracting both local and foreign entrepreneurs. This sector is a key source of jobs, employing 38 percent of the population, and serves as a priority sector in the context of food security.
As a result of agrarian reforms carried out in Azerbaijan, guarantees were made for the dynamic development of agriculture. Thus, the sector was reformed and the regulatory framework was improved.
After restoration of state independence, the level of self-sufficiency for meat and dairy products stood at 30-35 percent in Azerbaijan. Currently, this figure has grown 92 percent and 76 percent, respectively.
The total volume of production of agricultural goods has increased by 3.4 times in Azerbaijan over the past ten years.
The production of agricultural goods increased by 7.3 percent in Azerbaijan in the first half of 2015 compared to the same period last year. The production of livestock increased by 2.6 percent, and crop production by 14 percent in the reported period.
Source: azernews.az