Newspaper: sugar prices surge again in Armenia
03.02.2011,
18:28
Sugar prices leapt again in Armenia, Chorrord Ishkhanutyun daily reports.
YEREVAN, February 3. /ARKA/. Sugar prices leapt again in Armenia, Chorrord Ishkhanutyun daily reports.
They went 10% after January 31 from 330 drams to 360 drams per one kilogram.
According to the newspaper, sugar prices doubled over 2010 in world markets from $0.15 to $031 per pound.
Sugar prices are believed to keep growing also in 2010 because of unfavorable climatic conditions in large sugar- exporting countries - Brazil, Australia and Pakistan.
Despite worldwide hikes in sugar prices, Armenia managed to keep them pegged for long time thanks to Akhuryan Sugar Combine, which has stocked up raw materials in due time.
But this can’t continue long, since sugar prices in neighboring Georgia jumped, as everywhere, and Georgian businessmen started purchasing this product in Armenia.
That is why this sugar combine was left with no option but to raise prices for their product. ($1= AMD 364.75).-0-
They went 10% after January 31 from 330 drams to 360 drams per one kilogram.
According to the newspaper, sugar prices doubled over 2010 in world markets from $0.15 to $031 per pound.
Sugar prices are believed to keep growing also in 2010 because of unfavorable climatic conditions in large sugar- exporting countries - Brazil, Australia and Pakistan.
Despite worldwide hikes in sugar prices, Armenia managed to keep them pegged for long time thanks to Akhuryan Sugar Combine, which has stocked up raw materials in due time.
But this can’t continue long, since sugar prices in neighboring Georgia jumped, as everywhere, and Georgian businessmen started purchasing this product in Armenia.
That is why this sugar combine was left with no option but to raise prices for their product. ($1= AMD 364.75).-0-
