BUCKWHEAT TO BECOME CHEAPER IN OCTOBER

    BAKU/15.09.10/TURAN: Buckwheat will become cheaper in Azerbaijan in October after the crop is picked in Russia. This kind of cereals has become 2.5 times more expensive because the supply did not cover the demand in the past four months.
     Russian sources reported that buckwheat became more expensive because of the poor harvest last year. The prices in Russia increased 30-60%, depending on the region. The export of buckwheat to Azerbaijan was suspended, causing wholesale speculators to increase the prices. Karat Holding"s (a company that imports buckwheat) functionary said the commodity is sold at $1,750 per ton in Russia, but at up to $2,200 on the Azerbaijani state border.
     The Russian Flour and Cereal Mills Union"s President, Arkady Gurevich, believes the prices will come back to the previous level soon. This year"s harvest will presumably total 450,000 tons.
     Karat Holding"s functionary said Azerbaijan imports 15-20 railway cars of buckwheat (approximately 1,000 tons) per month. Azersun Holding is the biggest importer.
     The wholesale price is AZN 1.60 per kg in Azerbaijan. The retail price is AZN 1.80.
     The State Statistics Committee reported that Azerbaijan imported 33.2 tons of buckwheat totaling $208,000 in 2009. This means the bulk of the commodity is supplied to Azerbaijan, bypassing registration or customs duty payments. ---08A