"The decrease in the price of food grain in the world markets, especially in the main import markets for Azerbaijan, caused the price of bread to decrease," said Antimonopoly and Consumer Market Control State Service under the Ministry of Economy of Azerbaijan, APA reports.
The State Service for Antimonopoly Regulation and Control of the Consumer Market under the Ministry of Economy of Azerbaijan, as part of measures to control the consumer market, regularly monitors prices for food products, including flour and bread, which occupy a special place in the consumer basket of the population. The monitoring results showed that since March 11, the price of 650-gram round (factory) bread in large retail chains has decreased from 70 to 65 gapiks. As of March 9, 2023, the wholesale price of a 50-kilogram bag of flour varied between 35.5-37.2 manats. It should be noted that in August 2022, this indicator was 40.7-41.5 manats.
So, recently, the decrease in the price of food grain in the world markets, especially in Russia and Kazakhstan, which are the main import markets for Azerbaijan, affected the prices of flour formed on the basis of demand and supply in our country in accordance with market principles. The drop in the wholesale price of flour in the domestic market directly affected the price of bread".
It should be noted that in February of this year, the average monthly import value of milling wheat was $307.4, which is 13% 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 to discuss the proportionality of prices for wheat, flour and bread, the correspondence of the actual weight to that indicated on the label. In order to inform the population, information on wholesale prices for flour is posted and regularly updated on the official website of the State Service.