In Baku, fruit prices have surged, with the average cost escalating from approximately $2 to $5, as noted by both vendors and consumers. The escalation is attributed to factors such as adverse weather conditions and an uptick in exports to Russia.
Vahid Ahmadov, from the Milli Majlis Committee on Economic Policy, Industry, and Entrepreneurship, highlighted the impact of insufficient harvests due to unfavorable weather on pricing, alongside seasonal price fluctuations. Post-holiday expectations anticipate a reduction in prices.
Economist Natig Jafarli pointed out the significant role of weather in diminishing fruit harvest volumes, alongside the challenges of balancing exports with local market supply. The Russian market's demand notably influences domestic pricing. Jafarli also mentioned the long-term investment required in horticulture, which is deterred by high loan interest rates. Despite these challenges, the State Statistical Committee reported a 14.2 percent increase in fruit and berry production. Inflation is also considered a contributing factor to the rising prices in the fruit and vegetable sector.
Source: jam-news.net