Monday, August 10 2020 14:15
Alexandr Avanesov

Alex Holding was fined AMD 24.7 million for abuse in the sugar market

Alex Holding was fined AMD 24.7 million for abuse in the sugar market

ArmInfo.  Alex Holding was  fined 24.7 million drams for abuse in the sugar market. This decision  was made at a meeting of the State Commission for the Protection of  Economic Competition (SCPEC).

According to the source, market research revealed that from January  2018 to March 2020, Alex Holding abused its dominant position in the  commodity market. We are talking, in particular, about unjustified  price reductions, application of discriminatory conditions and  prices, the use of which leads or may lead to restriction of economic  competition. Alex Holding's actions were aimed at maintaining its  share in the commodity market, including in the presence of cheaper  sugar. The company reduced the price of imported sugar so that it  could be sold at a competitive price, and in some cases at a loss to  itself. As a result, enterprises that imported sugar at a price lower  than that sold by Alex Holding faced difficulties. At the same time,  the process of selling sugar is carried out by "Alex Holding" in such  a way that it is economically inexpedient for business entities that  are large buyers of sugar to import the product on their own.

By the decision of the Commission Alex Holding LLC was instructed to  eliminate the violation within 1 month after the decision of the  SCPEC entered into force, to bring conditions for the sale of sugar  in accordance with the pricing policy, establishing clear, objective  and non-discriminatory conditions for the sale of sugar. Earlier the  SCPEC noted that the granulated sugar market in Armenia has a high  degree of concentration. In the structure of imports and sales, the  shares of economic entities have changed, the share of economic  entities with the largest volume of imports and sales has decreased.  Thus, the share of "Alex Holding" LLC and "Alex and Holding" owned by  the Armenian oligarch Samvel Aleksanyan, as well as on the joint  venture "Armen-Amik Ehbayrner", in terms of imports decreased from  67% to 49%, and in terms of sales - from 95 % up to 88%. Currently,  granulated sugar is sold at a price of 270-280 drams per 1 kg against  380 drams last year.

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

ArmEx

 

СПРОС (Покупка)

USD

Средневзв. Цена

482,00

ПРЕДЛОЖЕНИЕ (Продажа)

  USD

Средневзв. Цена

-

СДЕЛКИ

USD

Цена откр.

482,00

Цена закр.

482,00

Мин. Цена

482,00

Макс. Цена

482,00

Ср/взв. Цена

482,00

-0.16

Кол-во сделок

1

Объем (инвал.)

200 000

0бъем (драм)

96 400 000