BREAD-GRAIN PRICES GROWTH IN ARMENIA IS NOT OF A SPECULATIVE NATURE, SPECIALISTS OF THE COMMISSION ON ECONOMIC COMPETITION PROTECTION THINK

ArmInfo Agency, Armenia
Oct 3 2007

ArmInfo. Bread-grain prices growth in Armenia is in line with the world
prices changing and is not of a speculative nature, chairman of the
Commission on economic competition protection Ashot Shakhnazaryan
said at its sitting over which the grain market of the republic
was discussed.

He also added that grain is chiefly imported to Armenia from Russia,
as local producers can ensure only 40% of demands. Shakhnazaryan said
that the bread-grain world prices have started growing since spring
of the current year and have grown up to 75%. In Armenia growth of
prices was oscillating between 8-12 drams from the world prices even
in the conditions of the dram strengthening. This is not significant
and cannot be considered speculation, Shakhnazaryan said. It was
mentioned at the session that "Salex Group" company imports 35,06%
of bread-grain, and "Manana Grain" – 35,8%. Both companies were
recognized as dominating as each of them occupies more than the third
of the market.

The fact of speculation at the flour market has not been fixed
either. A total of 139,7 thsd tons of flour was produced in the
republic in 2006, 246 tons – imported and 139,2 thsd tons sold.

Stemming from this, we have 100 gr of flour per capita per day.

From: Emil Lazarian | Ararat NewsPress