Azerbaijani PM signs new decision on price of wheat and flour

Prime Minister Ali Asadov has approved an amendment to the Decision of the Cabinet of Ministers "On additional measures to reduce the negative impact of rising import prices for food wheat on the price of flour and flour products sold in the country."

The upper limit of the wholesale price of a ton of flour for the calculation of subsidies to flour producers for each ton of flour sold by flour producers was set at 520 (five hundred and twenty) manats and the margin of 2 flour producers, including domestic costs, at 25 percent.

Thus, the amount of subsidy to be paid to flour producers for each ton of flour sold by flour producers shall be determined in the amount of the difference between the average monthly import value defined under this Decision and the upper limit of the wholesale price of one ton of flour fixed by adding the margin of the flour producer in the amount settled by this Decision.

In addition, the Ministry of Economy, the Ministry of Finance, the Ministry of Agriculture, the Ministry of Emergency Situations, the Food Safety Agency, and the Azerbaijan Railways Closed Joint-Stock Company must submit proposals to the Cabinet of Ministers by December 31, 2021, on the establishment of a sustainable mechanism for appropriate regulation and control to create food wheat reserves and reduce the impact of world wheat prices on domestic wheat prices.