YEREVAN. – Russian wheat has occupied 30 percent of the Armenian market, Mancho Group company director Ivan Mosoyan told Armenian News-NEWS.am.

He added, however, that there was no Russian wheat in the domestic market until Armenia joined the Russia-led Eurasian Union. 

In 2015, and to compete with the Russian imports, the Armenian flour mill companies reduced the price of 50-kg flour bags.

“In addition to that, the electrical energy price rose last year,” Mosoyan noted. “That’s why we reduced the prices to almost the amount of the cost price, for survival.”

Along with the decline in the exchange rate of the Russian ruble, importing flour from Russia has become more profitable for Armenia’s importers than the country’s flour mill companies, in terms of bringing the wheat from Russia and milling it in Armenia.