Weekly economic review (2011 Nov. 7 – 12)
The price for flour dropped in Azerbaijan and lead to lowering of the prices for bread. If before a sack of flour cost 20-22 manat, the figure is 15-16.5 manat today. This allowed the large bread manufacturers to sell it at lower prices. As a result, the retail price of bread dropped from 40 to 35 gapik.
The bread manufacturers said a further reduction in the price of flour will lead to lower prices for bread.
Today Azerbaijan's grain demand is 3-3.2 million tons. About 2.5 million tons of grain were collected this year, which corresponds to the forecast for this year, the missing part Azerbaijan imports from Kazakhstan and Russia.
According to the State Customs Committee's data, Azerbaijan imported flour in the amount of $57.17 million in January-September, which makes up 0.83 percent of total imports and exceeds the figure of January-September 2010 by 56.9 percent times.
Grain imports rose by 6.27 percent - to $196.8 million over the year, representing 2.86 percent of total imports of the country during this period.
Monitoring of the Azerbaijani Economic Development Ministry confirmed the reduction in bread prices in the market, the head of Public Relations Department at the Azerbaijani Economic Development Ministry of Abbas Aliyev told Trend.
"Monitoring of the Economic Development Ministry confirmed the reduction in prices for bread. This is due to lower prices for flour, and this tendency is fully consistent with market relations emerging in Azerbaijan," he said.