...

Azerbaijan puts five cotton enterprises up for sale

Business Materials 6 June 2011 17:12 (UTC +04:00)

Azerbaijan, Baku, June 6 / Trend A.Akhundov /

The shares of five Azerbaijani cotton enterprises have been put up for a cash auction on July 5, the Azerbaijani State Property Issues Committee said.

Some 30 percent of the shares of Mugan Pambıq, Sabirabad Pambıq, Salyan Pambıq, Terter Pambıq and Ucar Pambıq were put to auction.

Shares of the agricultural chemical companies, including Kurdəmir Kendkimya, Kurdəmir Kendkimya Techizat, Lankaran Kendkimya, Lerik Kendkimya, Oguz Kendkimya, Terter Kendkimya, as well as other companies, will also be put up for this cash auction.

To get the 2011 harvest, Azerbaijani cotton producers and customers signed contracts over growing cotton within an area of 45,000 hectares, up 15,000 hectares from 2010, a source with the Agriculture Ministry reported earlier

The sowing goes on, with the use of new technologies at the focus, the source said.

MKT, the biggest cotton producer of Azerbaijan, has increased the cotton purchase price by about 7 percent, from 0.39 manat to 0.42 manat per kilogram.

The growth of international cotton prices and the increase of cotton producers' sale prices have contributed to the rise in Azerbaijani farmers' interest in this branch.

As a result, areas under cotton crops in the Yevlakh region increased by 53 percent from 400 hectares in 2010 to 613 hectares this year. Areas under cotton crops in the Goychay region are expected to increase by 30 percent from 60 hectares to 80 hectares, respectively. In the Ujar region, areas under cotton crops decreased from 700 hectares to 600 hectares as farmers had been growing cotton at most suitable areas to get as much profit as possible.

Latest

Latest