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Wholesale price of sugar would further drop in Azerbaijan

28 November 2008 14:15 (UTC +04:00)

Nevertheless, prices have remained at the same level in most areas.
The price of sugar fell 17% or 20 kopecks to AZN 1 a kilo and price of granulated sugar declined 20% or 20 kopecks to 80 kopecks a kilo in Baku.
APA bureaus report that the price of sugar remained steady while the price of granulated sugar fell 6.3% in Lenkeran and Gandja.
Prices also held steady in Shirvan, Kurdemir, Ujar and Zerdab, Aran zone, Berde, Terter, Aghdam, AghjabÉ™di and Goranboy.
Price of sugar fell 10% to 90 kopecks a kilo while price of granulated sugar remained steady in Goychay and Ismayilli
Prices also remained unchanged in Karabagh region.
Price of sugar remain unchanged while price of granulated sugar fell 25% to 60 kopecks a kilo in Nakhchivan AR.
Afig Samadov, press secretary of Azerbaijanâ€™s major sugar maker Azersun Holding, told APA-Economics that the wholesale price of granulated sugar has been cut by 5% recently. He added that wholesale prices will drop further in the face of declining price of raw material on the world markets and a rise in production of sugar beet.
Azerbaijan is predicted to harvest 230 000 tons of sugar beet from 6 hectares this year.
The countryâ€™s annual demand is 150 000 to 180 000 tons.
The State Customs Committee said 220 373.3 tons of granulated sugar worth $77 756 000 were imported to the country during January-October, up 12.4% on the same period last year.