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The Yerevan Brandy Company (YBC) has cut down on purchases of grapes from grape farmers this year. The firm is willing to buy no more than 25,000 tons of grapes this year against 29,000 tones purchased last year.

The company told Panorama.am that the decision to cut purchases is based on financial and economic problems. At the same time, it assed that the grape purchase level agreed with farmers will be fully procured as they are working on the contract annexes at the moment.

"In the border town of Berd, YBC will buy up the grapes offered by contract farmers. Taking into account the anti-epidemiological rules, YBC is now completing the work necessary for the organization of safe procurement," the company said, adding that the date for the lunch of purchases will be announced in the next few days.

Despite facing significant economic challenges, the Yerevaan Brandy Company has raised its purchasing price this year to 155 drams per 1 kilogram, which is 5 drams more than last year.

The purchasing price has been submitted to all interested parties starting from April 2020, when the contracts were signed. As in previous years, there will be a single price for all YBC branches, including the Berd branch.

Payments will be made within 3-4 banking days after delivery of the grapes, the firm said.

According to the policy pursued by the YBC for many years, the price will apply to all the grapes purchased by the company and will not change depending on the sugar content.

"The Yerevan Brandy Company announces the purchasing price exclusively for its enterprise and it is not responsible for other speculative statements," the company said.

A group of farmers from several villages of Ararat Province blocked a mayor highway on Thursday in protest against the company’s decision to review the contracts signed with them and to cut the grape purchase level by half.