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SUGAR PRICE IN ARMENIA ALMOST DOUBLES IN A DAY
ArmInfo
2007-10-22 17:37:00
Sugar prices in Armenia have abruptly increased in a day. On October
21, the price per 1 kg of granulated sugar rose from 220-250 AMD to
400-450 AMD.
Armenian MP Samvel Alexanyan, the main supplier of sugar to Armenia,
told ArmInfo correspondent that the almost doubled price of sugar
is not only ungrounded, but has no logic explanation either, as the
sugar price in world markets remains unchanged. Moreover, when the
supplier learned about the unjustified excitement caused by retail
trading, he himself ordered to decrease the wholesale sugar prices
by 10 AMD. However, this decision of the wholesaler caused another
excitement - today the demand for this product totalled 1 thsd tons
as against the former 150-200 tons that were daily sold to retail
traders. "I think, the leap in consumer prices can be explained by
the ungrounded panic caused by the abrupt increase in prices of such
products as vegetable oil and butter, as well as flour and flour
products," he said. He added that in the world market these products
have grown in price only by 17-18%, and not by 80% as it is observed
in Armenia. He also noted that sugar is imported to Armenia mainly
from Brazil.
For his part, Press Secretary of the State Commission on Protection of
Economic Competition Armine Udumyan told ArmInfo that the Commission
starts studying justification of leap in sugar prices, from today
on. It will take the Commission 1-3 weeks to make out what is
what. This term is in accordance with the Regulations.
Meanwhile, despite the fact that the Commission fined 50 organizations
at the rate of 2% of the annual turnover for unjustified rise in
vegetable oil and butter price last week, the market situation didn't
change. Moreover, vegetable oil and butter deficit is artificially
created in food stores.
While the state "anti-monopoly" organ and the economic entities puzzle
out who is to blame, today the majority of Armenian citizens return
home with half-empty bags, as their budget with an average salary of
40 000 AMD is not calculated for the unexpected price run-up.
ArmInfo
2007-10-22 17:37:00
Sugar prices in Armenia have abruptly increased in a day. On October
21, the price per 1 kg of granulated sugar rose from 220-250 AMD to
400-450 AMD.
Armenian MP Samvel Alexanyan, the main supplier of sugar to Armenia,
told ArmInfo correspondent that the almost doubled price of sugar
is not only ungrounded, but has no logic explanation either, as the
sugar price in world markets remains unchanged. Moreover, when the
supplier learned about the unjustified excitement caused by retail
trading, he himself ordered to decrease the wholesale sugar prices
by 10 AMD. However, this decision of the wholesaler caused another
excitement - today the demand for this product totalled 1 thsd tons
as against the former 150-200 tons that were daily sold to retail
traders. "I think, the leap in consumer prices can be explained by
the ungrounded panic caused by the abrupt increase in prices of such
products as vegetable oil and butter, as well as flour and flour
products," he said. He added that in the world market these products
have grown in price only by 17-18%, and not by 80% as it is observed
in Armenia. He also noted that sugar is imported to Armenia mainly
from Brazil.
For his part, Press Secretary of the State Commission on Protection of
Economic Competition Armine Udumyan told ArmInfo that the Commission
starts studying justification of leap in sugar prices, from today
on. It will take the Commission 1-3 weeks to make out what is
what. This term is in accordance with the Regulations.
Meanwhile, despite the fact that the Commission fined 50 organizations
at the rate of 2% of the annual turnover for unjustified rise in
vegetable oil and butter price last week, the market situation didn't
change. Moreover, vegetable oil and butter deficit is artificially
created in food stores.
While the state "anti-monopoly" organ and the economic entities puzzle
out who is to blame, today the majority of Armenian citizens return
home with half-empty bags, as their budget with an average salary of
40 000 AMD is not calculated for the unexpected price run-up.