12:24 - 31.10.2022

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October 31, Fineko/abc.az. "If the cost of the imported product is low, the price of the final product obtained from this raw material must necessarily change."

ABC.AZ reports that expert economist Vahid Maharramov told the local press about this, speaking about the reduction in prices for wheat imported in Azerbaijan.

In his opinion, in fact, the prices of flour and bread should decrease: "But in Azerbaijan we see a slightly different picture. They can cause an increase in the price of not only raw materials, but also other means used in production, other costs, and not reduce the price of bread. But in fact, the price of flour and bread should decrease."

The expert noted that recently Russia has decided to reduce duties:

"Russia has comparatively cut duties. But in this country, the decisions are not sustainable, they often change. However, this year Russia produced too much wheat – about 100 million tons of unrefined wheat, which expanded sales opportunities."

Maharramov believes that if Russia's production has increased and export opportunities have decreased, this means that Russia should sharply reduce the price.