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In January-November 2022 Azerbaijan export revenues of cotton fiber ($161.1 million), which takes the second place among non-oil export goods, fell by 14.2% as compared to the same period of the previous year, the Center for Analysis of Economic Reforms and Communications reports.

The report says that export figures were down for all three major cotton producers and exports over the first 11 months. “MKT Istehsalat Kommersiya” LLC gained $105.1 million (-7.5%) from cotton exports, “P-Aqro} LLC – $34.2 million (-5.6%) and state-owned “Az?rpambiq Aqrar S?naye Kompleksi” LLC – $51.8 million (-33%).

The State Customs Committee informs about sales abroad of 70.800 tons of cotton fiber. This is down by 39.6% from the first 11 months of 2021. Exports of cotton yarn (7,984 tonnes) more than halved in this period. A tonne of cotton fibre sold abroad at an average price of $2,302 and yarn at $3,931, which is 41.7% and 28.7% more expensive respectively than in the comparable period of 2021.

Despite this high rise in cotton prices at the world market, cotton companies have raised their raw cotton purchase prices by only 14.2% since 2022. In 2022, the maximum price for raw cotton in Azerbaijan was AZN 800 per tonne, or $470.5

Source: Turan News Agency

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