BAKU — The price of 650-gram round (factory-made) bread in several retail chains in Azerbaijan has dropped from 0.35 cents to 0.32 cents as of October 26.

According to a new release by Trend News Agency, this marks the third decrease in bread prices this year, which can be attributed to reduced food wheat costs on world markets. In particular, the average monthly cost of food wheat imports in October was $230.9, approximately 28% lower than in October of the previous year. It has been noted that wheat production is forecasted to increase globally this year.

Moreover, the decline in bread prices can also be attributed to a reduction in wholesale flour prices. As of October 26, 2023, according to the State Service for Antimonopoly Supervision and Control of the Consumer Market under the Ministry of Economy, the wholesale price of a 50-kilogram bag of flour ranged from $15.54 to $16.78.