Sugar and sunflower oil do not rise in price in Armenia

The decrease in prices coincides with the strengthening of the dram against the dollar, which has been going on since the end of March. Compared to prices a year ago, sugar in Armenia has not risen in price, and sunflower oil has even fallen in price. This is evidenced by the data of the State Competition Commission of Armenia. Let us note that the decrease in prices coincides with the strengthening of the dram (since Armenia imports both sugar and sunflower oil by 100%). In May 2022, compared to May 2021, invoice prices for sugar (prices at the time of import to Armenia) increased by 37-40%. During the same 12 months, the dollar fell by 10-13%. As a result, the retail price of sugar for these 12 months (May 21-May 22) increased by only 5%, from 390 to 408 drams, and in June it fell completely to 389 (at the current rate - 93 cents). In March 2022, before the dollar began to fall, sugar was much more expensive (440-445 drams), especially since in early March the dollar rose to ...