Sugar Prices Set to Increase, Says Gegham Gevorgyan

Following the New Year, sugar prices are expected to rise. This was stated today by Gegham Gevorgyan, the head of the Commission for the Protection of Economic Competition, during a press conference with journalists.

He explained that there has been a sharp decline in prices on the market, which is not necessarily good for the economy. “Currently, the price of sugar has dropped from 391 drams in January 2017 to 229 drams, and now it is even down to 209 drams. Such seasonal price decreases can create problems. We believe that sugar prices will increase after the New Year because this drop is not considered natural; large supplies are coming to Armenia at low prices from Russia. I understand that lower prices are good for consumers, but they are not beneficial for the economy,” he said.