Why Butter Prices Are Higher in Armenia than on the International Market

Butter prices have seen a slight increase on the international market. According to the newspaper, as of January 21, the price of one kilogram of butter was selling for over $4.7 internationally. This was an increase from $4.5 on January 5, and from $4.2 as of December 15 of the previous year.

In the Armenian domestic market, butter prices remain high regardless of fluctuations in the international market. As of yesterday, one kilogram of New Zealand butter was being sold for approximately 3500 drams.

This means that in Armenia, one kilogram of New Zealand butter exceeds $6.7, which is more than $2 above the price set in the international market. It should also be noted that due to the rising exchange rate of the dollar, some products in Armenia have been getting more expensive for several months now. Furthermore, the rates of the dollar and euro continue to remain high.

According to experts, this is a concerning trend, as the higher dollar and euro rates mean that importers are acquiring foreign currency at a higher cost, which may lead to increased prices for the goods they bring in. This, likely, has also impacted the butter market.

Writes the newspaper “Zhoghvor”.