BAKU, Azerbaijan, March 15
Trend:
Russia and Ukraine account for 29 percent of world wheat exports and the Russian-Ukrainian military conflict is already causing a rapid growth in wheat prices on the world market, Trend reports referring a statement of the Center for Analysis of Economic Reforms and Communications of Azerbaijan.
Azerbaijan's grain reserves can be used to maintain grain prices in the local market for some time, but the best option is to search for alternative markets, Head of the Center's Department Rashad Huseynov noted.
According to him, wheat yield in Azerbaijan amounted to 31.7 quintal per hectare in 2021.
"Over the past five years, there has been an increase in the average yield, but this figure is lower than in a number of advanced wheat-producing countries. Activities in this area should be continued," Huseynov said.
Wheat is a very important strategic product for Azerbaijan, he noted.
"According to international statistics, flour production in Azerbaijan amounted to 84-85 kg per person in 2020. This figure in developed countries was at the level of 55-65 kg," Huseynov said.
The high consumption of flour in Azerbaijan gives reason to say that wheat is an important product for maintaining food security, he noted.
