No drastic increase in wheat prices expected in Armenia, Agriculture Ministry says

No drastic increase in wheat prices expected in Armenia, Agriculture Ministry says

PanARMENIAN.Net - Despite the global rise in prices for wheat, no drastic increase is expected in Armenia, the country’s Agriculture Minister said.

“The situation is under control,” Gerasim Alaverdyan told reporters on August 30. “We held consultation with seven major wheat importers, who purchased the essential amount of wheat from Kazakhstan and some other countries after Russia imposed restrictions on wheat export. However, Russia will make an exception for Armenia and supply a certain amount of wheat.”

The price for wheat fluctuates from AMD 80 to 150 depending on the grade.

The importers assured the Minister that there is no monopoly but a strong competition at the wheat market. So, Alaverdyan drew a conclusion that the prices will not go up considerably.

As to opinion that the importers themselves inflated the prices, he noted, “It can’t be true. Importers are interested in emptying their storehouses to buy new lots for a lower price.”

Armenia needs 650-720 thousand tons of wheat annually. In 2010, the harvest totaled 280 thousand tons against 370 thousand reaped last year.

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