RA Commission of Economic Competition Defense State discussed the significant rise in sugar prices in Yerevan.

The Commission concluded that “due to bad weather conditions poor crop in India is recorded (India is the major supplier of raw stuff for sugar production) and this led to sugar price increase in the world market.”

Due to exchange rate rise in Armenia, the prices went up for AMD 10-20 in retail. Commission considers there are no violations of competition law in the market.

“In any case market is strictly controlled and the necessary measures would be taken if needed,” the statement of the commission reads.

It should be mentioned that sugar is supplied by MP Samvel Alexanyan, thus the Commission is anticipated to register no violation, being helpless in dealing with ‘strong’ personalities.