Armenian Mp Gets $18 Mln Annual Profit From Sugar Import – Paper

ARMENIAN MP GETS $18 MLN ANNUAL PROFIT FROM SUGAR IMPORT – PAPER

PanARMENIAN.Net
May 22, 2012 – 14:46 AMT

PanARMENIAN.Net – An interesting fact has been recorded in the
Central Bank of Armenia (CBA) report on “Refinancing rate in May,
2012, Haykakan Zhamank paper reports.

Sugar price dropped by 7% in world market in April 2012, compared with
the same period of 2011. However, according to statistical data, 1
kg sugar cost AMD 455 in Armenia, against last year’s AMD 388 in April.

Hence, were prices in Armenia conditioned by world market trends,
sugar would cost AMD 384 instead of AMD 455 in April. According
to official statistics, about 100 thous. tons of sugar is annually
consumed in Armenia, with MP Samvel Aleksanyan getting additional USD
18 mln. profit as the only businessman involved in import of sugar,
the paper says.

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