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A growing number of business entities have stated to engage in Armenia’s wheat and flour markets in recent years, reducing the centralization of the sector and boosting competition, according to the latest figures released by a governmental watchdog.

The State Commission for the Protection of Economic Competition told Panorama.am that on the basis of President Serzh Sargsyan’s directive it had carried out and completed large-scare studies in the wheat and flour markets, with the studies covering the entire chain of production, imports and sales.

The findings show that the share of major companies has cut down in the sphere, prompting a stronger competition.

In 2017, the volumes of wheat imports, its local production and sales totalled to 468,000 tons, with Alex Holding and Modus Granum dominating the market.

The imports and local production volumes of flour amounted to 198,000 tons in Armenia last year, with 58 more companies operating in the market in addition to the mentioned companies.

In 2012, only 22 business entities imported wheat in Armenia, while the number reached 85 in 2017. Moreover, the increase was mainly recorded in 2015, when Armenia joined the EAEU.

In 2017, the number of entities engaged in flour imports reached 133 from 23, with the growth registered again after Armenia jointing the EAEU.

Due to the mentioned changes, a downward trend in flour price has been observed since 2012. Flour sales price amounted to AMD 204 in 2017, down by 24 percent from the 2012 data.