BAKU, Azerbaijan, March 14. The decline in prices for food wheat in world markets, and, in particular, in the main import markets for Azerbaijan, has led to a decrease in bread prices, Trend reports via the State Service for Antimonopoly Control and Supervision of the Consumer Market under Azerbaijan's Ministry of Economy.
The state service, as part of measures to control the consumer market, regularly monitors the market for food products, including flour and bread.
According to the monitoring results, since March 11, in the large retail chains, a decrease in the price of 650-gram round (factory) bread from 70 ($0.41) to 65 gapiks ($0.38) has been observed. Meanwhile, on the flour market, the wholesale price of a bag of flour weighing 50 kilograms as of March 9, 2023, was 35.5-37.2 manat ($20.8-21.8). In August 2022, however, this figure stood at 40.7-41.5 manat ($23.9-24.4).
So, the recent fall in food wheat prices on international markets, particularly in Russia and Kazakhstan, which are Azerbaijan's primary import markets, has also had an effect on the country's flour prices, which are established based on supply and demand in accordance with market principles. The price of bread was directly impacted by the decline in wholesale flour costs on the domestic market.
Meanwhile, in February of this year, the average monthly cost of food wheat imports amounted to $307.4, which is 13 percent lower than in August 2022 ($354.4).
In addition, as part of measures to control the consumer market, the state service holds regular meetings with market participants, at which the proportionality of prices for wheat, flour, and bread, and the correspondence of the actual weight with that indicated on the label are discussed. The official website of the state service posts and frequently updates information on wholesale prices for flour in order to inform the public.