Tosp knitting factory head hopes for drop in cotton price June 20, 2011 - 14:50 AMT PanARMENIAN.Net - In 2011, cotton price grew by 70-75%, however, Tosp textile company increased its production cost by 20% only. As Tosp ojsc Director General Suren Bekirski told a news conference organized in the framework of Armenian Economy Minister Tigran Davtyan’s visit, a tendency for price drop has been observed recently, however, the world market has “held its breath” in expectation of August-September harvest. Mr. Bekirski expressed hope for the new harvest prices to be much lower. As Mr. Bekirski noted, the raw materials used in production are mainly imported from Turkey and Middle Asia; however, there were some transportation- and cost related difficulties in importing from China, he said. In March 2011, cotton prices struck a record level, reaching their highest in the last 30 years. 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 | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |