Flour, sugar prices stabilize in Armenian markets: anti-monopoly
commission

YEREVAN, March 10. /ARKA/. Flour and sugar prices have stabilized in
Armenia, the RA State Commission for the Protection of Economic
Competition (SCPEC) reports.

The flour and sugar prices have reduced to their former notch.

For example, the first-quality flour is being sold at 7,800 drams per
50kg, while a 50 kg sack of prime-quality flour costs 8,820 drams.

In retail outlets, sugar is sold at 245 drams per kg, whereas in peak
periods the product’s price reached 270 drams for kg.

SCPEC has filed administrative lawsuits against local traders that
unreasonably increased prices of medicines, household appliances,
vegetable oil and butter. The commission is now monitoring other
markets as well.

On March 3, the Central Bank of Armenia (CBA) officially announced
retrieval of the floating currency exchange rate. According to CBA
experts, the average weighed Armenian dram/U.S. dollar exchange rate
mat range from 360 drams and 380 drams per $1.

Concerned about possible price hikes, people rushed to groceries and
supermarkets to buy up staples, creating a feverish demand for butter,
vegetable oil, sugar and other goods.

Making use of the situation, some traders increased staples prices in
local markets. After a scrutiny, SCPEC filed lawsuits against traders
of vegetable, butter, household appliances and medicines. `0–