Agricultural Minister Does Not Expect Bread Price Hike
According to Minister of Agriculture Gerasim Alaverdyan climatic conditions have lead to the international price rise in wheat, but the official says Armenia is not facing a shortage of wheat reserves.
The Minister has recently met with eight Armenian importers of wheat recently, who told him that they have been making purchases of sufficient wheat to meet domestic demand. This year, Armenia expects a 280,000 ton crop of various cereal grains, of which 120,000-130,000 is wheat.
"The price is dependent on supply and demand. These companies have assured us that radical price hikes will not take place down the road. If we compare international market prices and take into account the gas price hikes, yes, I do not expect today’s bread prices to substantially rise," said Minister Alaverdyan, pointing to the competition that exists in the marketplace.
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