Thursday, June 23 2022 00:42
Naira Badalian

Competition Protection Commission of Armenia on how exchange rate  affected cost of granulated sugar and sunflower oil

Competition Protection Commission of Armenia on how exchange rate  affected cost of granulated sugar and sunflower oil

ArmInfo.Over the past 12 months, the price of granulated sugar has increased in Armenia, while the price of sunflower oil, on the contrary, has fallen, the Commission  for Protection of Competition (CPC) of the Republic of Armenia said  in a statement.

In particular, according to CPC observations, from January to May  2022, the invoice value of a kilogram of imported granulated sugar  decreased by 18-20%. During the same period, the dollar exchange rate  fell by 4-6%, and the retail price of goods fell by about 0.5% - from  410 to 408 drams.

From May 2021 to May 2022, the invoice price of the same product  increased by 37-40%. During the reporting period, the dollar exchange  rate against the Armenian dram decreased by 10-13%, while the retail  price of goods increased by about 4.6%, rising from 390 to 408 drams.

But in the period from March to June 2022, there was a decrease in  the retail price of a kilogram of granulated sugar. So, in March  2022, the average price was 443 drams, in April - 421, in May - 408,  in June - 389.

In January-May 2022, the invoice cost of 1 liter of "Avedov" and  "Golden Seed" sunflower oil increased by 4-6% (when imported to  Armenia). During the same period, the dollar exchange rate fell by  4-6%, while the retail price of goods increased by about 9%, from  1027 drams to 1120 drams. Between June 2021 and May 2022, the invoice  value of the same product increased by 23-26%. During the same  period, the dollar exchange rate fell by 7-8%, and the retail price  of the product fell by about 10.8% - from 1256 to 1120 drams.  

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