Flour prices slumped by 20 per cent, says SCPEC chief

Wheat flour in Armenia is currently sold at a much lower price than in neighboring countries, Artak Shaboyan, Head of the State Commission for Protection of Economic Competition of the Republic of Armenia (SCPEC), said at a news conference today.

According to him 1 kg of high-quality flour in Armenia is presently sold at a price no more than 200 drams, while the international wheat and flour prices still remain high: one ton of wheat costs $300 USD in Armenia. In Ukraine it costs $320 USD.

Further he recalled that the SCPEC started monitoring the wheat market since July when the Armenian wheat importers raised the prices for their services following Russia’s temporary ban on wheat exports.

According to Mr Shaboyan, flour prices skyrocketed in July; while there was a 20 per cent slump in prices after the Commission conducted the monitoring and held discussions.

Besides, in his words, there was also a sharp increase in buckwheat prices. The Commission is currently monitoring that market too.