Azerbaijani silk may enter new global markets
BAKU, Azerbaijan, Sept.17
By Fidan Babayeva - Trend:
Azerbaijani silk may enter the markets of China, Italy, South Korea and Japan in 2021, Director of the Production and Operations Department of the Azerbaijan Industrial Corporation Ilham Bayramov told Trend.
“In 2020, samples of Azerbaijani natural silk were sent to China, South Korea, Italy and Japan. In 2021, we're going to start exports to these countries,” the director said.
Due to the COVID-19 pandemic, raw silk prices in global markets has fallen sharply, said Bayramov.
“Despite the fact that in recent days there has been a certain increase in prices, the previous rate of market growth has not yet recovered. Despite the increased competition recently, it is not possible to observe trade activity due to the COVID-19 pandemic,” Bayramov emphasized.
The director said that 11,580 kilograms of dry silkworm cocoons were exported to Turkey before September 2020.
The total cost of products sold in Turkey amounted to 284,085 manat ($167,108), Bayramov said.
“At the same time, according to the marketing plan of Azeripek LLC, in order to promote the company's products to foreign markets and organize its further sale in Russia, Ukraine, the UAE, the US, Iran, Turkey, China and Italy, samples of dry cocoon, raw silk, and silk fabric were sent to these countries,” noted the corporation’s director.
Azeripek LLC purchases a kilogram of raw cocoon from silkworm breeders for 4 manat ($2.3), and the state pays them subsidies in the amount of 5 manat ($2.9) for each kilogram.
(1 USD = 1.7 manat on Sept. 17)
Follow the author on Twitter: Fidan_Babaeva