Wheat becomes most subsidized crop of agriculture in Azerbaijan

Published Jun 12, 2023

Tridge summary

Azerbaijan's Prime Minister, Ali Asadov, has stated that wheat is the most subsidized crop in the country's agriculture sector. This decision, made in June 2022, is part of efforts to increase food wheat self-sufficiency and support local producers. The government has increased subsidies for flour and flour products, raised import quotas, exempted wheat flour and bread from VAT, and offers loans to large grain importers. Azerbaijan's main wheat suppliers are Russia and Kazakhstan, and the country is also working on expanding its state grain fund to improve food security.

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Original content

Wheat has become the most subsidized crop of agriculture in Azerbaijan in recent years, taking into account external challenges, Azerbaijani Prime Minister Ali Asadov said during the Eurasian Congress – 2023, which is being held in Sochi (Russia), Trend reports. “The Cabinet of Ministers adopted an order to increase the level of self-sufficiency of food wheat and create state support for local producers in June 2022. We have increased the number of subsidies for each ton of flour and products made of flour sold on the domestic market. Wheat imports have also been increased, and the production and sale of wheat flour and bread are exempt from VAT,” he said. According to the PM, large grain importers are given loans at very low-interest rates. “Azerbaijan imports wheat in quite serious volumes. ...

Source: UkrAgroConsult