Why does nobody react to increase in sugar prices in Armenia?

Why does nobody react to increase in sugar prices in Armenia?

PanARMENIAN.Net - Sugar is an important product from the social point of view, according to the press service of Star trade network.

Thus, prices for this product cannot be higher compared to those of the monopolist in Armenia’s market of sugar, the company told a PanARMENIAN.Net reporter.

Meanwhile, the company purchases sugar from the market’s monopolist – Alex Grig company. Thus, Star trade network does not gain profit by selling it at the same price.

Star company could not name the reasons behind the increase in sugar prices by the monopolist over the past several weeks.

Sugar prices went up from AMD 290 to 315 per kilogram in October-November 2010.

The State Commission for the Protection of Economic Competition has not reacted to the increase in sugar prices yet.

Sugar was an important reason for the rise in the price of the global food basket in recent months, Food and Agriculture Organization (FAO) of the United Nations said in the latest edition of its Food Outlook report. According to FAO, sugar prices, which recently surpassed 30-year highs, remain elevated and extremely volatile.

 Top stories
Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”.
Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision.
The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision.
Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.
Partner news
---