Surging wheat and flour prices in Armenia are groundless: Abgar Eghoyan

The surge in wheat and flour price in Armenia are groundless, Head of Consumers’ Rights Protection NGO Abgar Eghoyan told a press conference today.

“I would say this rise in prices is groundless,” said he, adding that the only reason the prices of wheat and flour skyrocketed was Russia’s decision to impose a ban on wheat exports.

While according to Eghoyan, in Armenia entrepreneurs ignored US’s pledge to increase its annual wheat export by 15 million tones which even caused a downfall in wheat prices in global market.

“Some entrepreneurs try to create agiotage, while the media is pouring water on their mill,” complaint he, calling on media that instead of writing about this rise in prices they should rather write about its being groundless.

At the same time he said he hoped that the State Commission for Protection of Economic Competition of the Republic of Armenia will one day have enough authority to impose such punishments on entrepreneurs that they will not event think they can raise prices while selling products imported at earlier and therefore at lower price.