No reason to inflate prices on bread and flour products in Azerbaijan
Baku, Azerbaijan, Mar. 2
By Azad Hasanli - Trend:
There is no reason to inflate prices on bread and flour products in Azerbaijan, the head of the State Grain Fund of the Azerbaijani Ministry of Emergency Situations Zulfugar Mammadov said March 2.
He said that the volume of grain reserves of the fund increased from 500,000 metric tons to 750,000 metric tons.
"This allows intervention on the domestic grain market and preventing the price increase.
"Currently, the fund provides the enterprises with grain at 185.6 manat per metric ton," he said. "The wholesale price on 50-kilogram bag of flour is set at the level of 16 manat. This allows keeping the price on bread produced in the country at a stable level. In other words, there is no reason to raise the price on bread."
"At present, the supply of high quality wheat in the country hit almost 500,000 metric tons," Mammadov said. "Moreover, the negotiations on wheat supply are being held with the grain producers from Russia and Kazakhstan."
The main objective of the State Grain Fund is to provide consumers with grain products in emergency situations, to form the state grain stocks, to fulfill the international obligations and, if necessary, to prevent a sharp rise in prices on the domestic grain market.
The Central Bank of Azerbaijan has set the manat rate versus the US dollar at 1.05 manat per dollar since February 21. The rate decreased by 33.9 percent.
The official exchange rate of the US dollar versus the Azerbaijani manat was set at 1.0496 manat as of March 2.
Edited by CN
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