Yes, this is a good way to use up those imperfect or slightly unripe fruit. Apricot contain only a moderate amount of pectin and so the best way to ensure a good set, good flavor and attractive color is to use sugar that has added pectin and to follow the manufacturer's instructions. If you do not have any pectin, it might be necessary to add some lemon juice and to give the apricots a fairly lengthy boil in order to obtain a good set. However, this can darken the color of the jam and also affect the flavor.
** Asian Recipes