Surging bread and flour prices in Armenia

Russia's recent move to impose a ban on wheat exports has caused a rise in wheat prices in the world market. Prices in Armenia have been affected too.

A shop-assistant at a super-market in Yerevan confirmed to Tert.am that the prices of bread produced by some companies have soared. The rise is fluctuating between 20-40 drams.

Wholesale flour prices have also been on the rise in Armenia. A bag (50kg) of high-quality flour costs today $28 USD (10,220 dram) which means the price has been increased by $8 USD (2,920 drams).

The rise in prices appears to be an on-going as prices have gone up for $1.30 USD (474 drams) compared to Saturday's figures.

Ironically, wheat prices in the international market have already shown signs of decline. Wheat prices in the Chicago Board of Trade slumped by 5.3 per cent making up $7.15 USD for a bushel.

Earlier, Aram Ananyan, Assistant to Armenia's Prime Minister, said the Government has always kept a vigilant eye on what's happening in the wheat market and that both the Government and private companies have managed to store enough wheat supplies.

"Now too both the Government and the importers continue their work aimed at importing wheat to Armenia and strengthening the country's food security. The Ministry of Agriculture examined the situation thoroughly and reported to the PM that the wheat harvest and the current wheat supplies are quite enough to satisfy the domestic demand in the long run," said Mr Ananyan.

Attempts to dissipate widespread concerns about potential insufficiency in wheat supplies were also made by Samvel Alexanyan, head of a large importing company.

Mr Alexanyan particularly had said that there are enough wheat supplies in Armenia and that the company continues to import.