ArmInfo. Chairman of the State Commission for Protection of Economic Competition (SCPEC) Artak Shaboyan predicts a decline in prices for butter in the coming months. Artak Shaboyan stated on January 16 at a meeting with journalists.
Shaboyan reminded that the prices for butter began to grow since September 2016, which, he said, was mainly due to the situation on the international market. As the expert pointed out, the bulk of this product is imported into Armenia by the largest New Zealand dairy company Fonterra. "Monitoring of world prices has shown that the prices for New Zealand oil have grown since May 2016, which affected the local market after 4 months - since September .The highest price for the sale of Fonterra oil in 2016-2017 was established in July 2017 - $ 6 thousand for 1 ton, as a result, in the retail market, the price per 1 kg of oil was 4520 drams per 1 kg of oil, "the SCPEC chairman said.
Nevertheless, today the international market has seen a decline in oil prices, which, according to the head of the State Commission, will eventually affect the local market within 2 to 3 months. At the same time, Shaboyan said that structural changes are taking place in the oil market: if earlier, Alex Holding held the largest importer in the sphere, about 80% in the market structure, but now its share has significantly decreased to 55%. The remaining 40% of the market is shared by 28 companies, most of which import oil from the EAEU countries.