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Azerbaijan's agricultural enterprises increase revenues

25 August 2020 18:07 (UTC+04:00)
Azerbaijan's agricultural enterprises increase revenues

By Ayya Lmahamad

Azerbaijan’s enterprises operating in the agricultural sector increased their revenues during the period of 2013-2019, local media reported with reference to State Statistics Committee on August 25.

According to the statement, during the reporting period the total income of those enterprises amounted to $190 million, with an increase by 16 percent by the end of 2019.

Moreover, during the past seven years, the number of enterprises operating in this industry in Azerbaijan decreased by 12 percent, reaching 1,471.

Earlier, it was reported that the volume of Azerbaijan’s agriculture production increased by 2 percent in January-July 2020, compared to the same period last year.

Thus, the volume of agriculture production in Azerbaijan during the reporting period amounted to AZN 4.9 billion ($2.8bn).

During the reporting period, the volume of production in livestock production amounted to AZN 2.4 billion ($1.4bn), with a growth by 3.2 percent. At the same time, the volume of production in crop production amounted to AZN 2.4 billion ($1.4bn), with a growth by 0.7 percent.

Moreover, the country produced 298,400 tons of meat, with a growth by 3.1 percent, 1.2 million tons of milk, with a growth by 1.9 percent, 1.1 million eggs, with a growth by 7 percent, 15,000 tons of wool, with a growth by 0.5 percent and 446,600 tons of silkworm cocoons, with a decrease by 30.6 percent.

As of August 1, the country harvested 2.8 million tons of cereals, 1.7 million tons of vegetables, 611.700 tons of potatoes, 363.2000 tons of melon crops, 263.500 tons of fruits and berries, 7.500 tons of grapes, 2.500 tons of tobacco, 603 tons of green tea, 2.500 tons of sunflower, 15.300 tons of sugar beet.

Additionally, on August 21, the Ministry of Agriculture stated that Azerbaijan will establish a Joint Agrarian Insurance company as part of measures aimed at introduction of agrarian insurance mechanism.

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