Armenia is looking for an alternative to Russian wheat

Armenia's Economy Minister, Gevorg Papoyan, is working to diversify the country's wheat imports by negotiating with various nations, as Armenia looks for new suppliers. Despite the economic challenges of wheat cultivation in Armenia, where production costs surpass revenue, the minister stressed the need to boost domestic production for food security. In 2023, Armenia produced 130,000 tons of wheat but imported 450,000 tons, primarily from Russia. The decline in global wheat prices has further discouraged local production. The article also highlights the AgriSupp platform by UkrAgroConsult, which provides market intelligence for grains and oilseeds.

Armenian Economy Minister Gevorg Papoyan announced the search for new wheat suppliers. At a joint meeting of the Standing Committees of the National Assembly on November 5, when discussing the draft state budget for 2025, the minister said that he was negotiating with several countries to diversify wheat imports. “We are considering alternative sources of imports. This is a normal, logical process, not directed against any country. If we imported 99% of wheat, for example, from Romania, I would negotiate with Russia on imports,” Business media quoted Papoyan as saying. According to the minister, wheat cultivation in Armenia is economically unprofitable. From one hectare, farmers receive products worth about $ 1,031, at a cost of $ 1,082. “In order for production to be profitable, it is necessary to subsidize about $ 206 per hectare,” the minister said. Papoyan also noted that world wheat prices have dropped significantly, which makes domestic production even less attractive from ...