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Flour, sugar prices stabilize: anti-monopoly commission

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  • Flour, sugar prices stabilize: anti-monopoly commission

    Flour, sugar prices stabilize in Armenian markets: anti-monopoly
    commission


    YEREVAN, March 10. /ARKA/. Flour and sugar prices have stabilized in
    Armenia, the RA State Commission for the Protection of Economic
    Competition (SCPEC) reports.

    The flour and sugar prices have reduced to their former notch.

    For example, the first-quality flour is being sold at 7,800 drams per
    50kg, while a 50 kg sack of prime-quality flour costs 8,820 drams.

    In retail outlets, sugar is sold at 245 drams per kg, whereas in peak
    periods the product's price reached 270 drams for kg.

    SCPEC has filed administrative lawsuits against local traders that
    unreasonably increased prices of medicines, household appliances,
    vegetable oil and butter. The commission is now monitoring other
    markets as well.

    On March 3, the Central Bank of Armenia (CBA) officially announced
    retrieval of the floating currency exchange rate. According to CBA
    experts, the average weighed Armenian dram/U.S. dollar exchange rate
    mat range from 360 drams and 380 drams per $1.

    Concerned about possible price hikes, people rushed to groceries and
    supermarkets to buy up staples, creating a feverish demand for butter,
    vegetable oil, sugar and other goods.

    Making use of the situation, some traders increased staples prices in
    local markets. After a scrutiny, SCPEC filed lawsuits against traders
    of vegetable, butter, household appliances and medicines. `0--
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