TODAY.AZ / Society

Azerbaijan sets maximum allowed prices for flour, bread

06 January 2022 [14:33] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan has determined the maximum allowed local prices for flour and bread, the State Service for Antimonopoly Control and Supervision of the Consumer Market under the Economy Ministry has reported.

The State Service held the negotiations with several major importers of milling wheat, as well as flour and bread producers, and ensured control over this process in order to prevent price increase.

Thus, the wholesale price for a 50 kg bag of flour was set at AZN 35.9 ($21.1), the retail price for 500 gr traditional (round) bread at o.50 qapiks (0.30 cents), and for 650 gr traditional (round) bread at 0.65 qapiks (0.38 cents).

The statement noted that prices for food wheat increased sharply against the background of global economic processes, the effects of the COVID-19 pandemic, the growth of food wheat demand in the world markets, as well as various measures taken by wheat-producing countries to protect the domestic market.

Moreover, Russia, the main wheat exporting country to Azerbaijan, has imposed high export duties since last February, due to which the prices for food wheat imported to Azerbaijan increased by about 58 percent compared to 2019.

The State Service underlined that the prices for food wheat, flour, and bread in Azerbaijan are not formed on the basis of regulated tariffs but on the basis of supply and demand in accordance with the principles of the market economy.

In 2021, wheat and flour prices were kept below real prices at the expense of large subsidies allocated by the government in order to reduce the impact of a sharp rise in world food wheat prices on Azerbaijan.  The statement stressed that naturally, it is impossible to hold these prices for a long time at the expense of subsidies alone.

Additionally, at present, the State Service is currently developing and will soon publish a database of wholesale centers of sales and manufacturers of flour, which will be constantly updated.

URL: http://www.today.az/news/society/214197.html

Print version

Views: 453

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: