Food Industry News

Latvia increased procurement prices of milk

Since August, the purchase prices of milk in Latvia have increased significantly and can also increase in the future, said Gita Murniece, chairman of the board of the dairy processing company Smiltenes piens, told LETA.

If at the beginning of last summer, the average purchase price of milk in Latvia was about 18 euro cents, then in August already around 21 euro cents, and in some places dealers even offered 28-30 cents per liter.

“In fact, since August, the entire Latvian dairy processing sector has begun to raise the purchase prices of milk by half a cent, a cent, two cents - who knows how,” she said.

Murniece predicts that from August to October the purchase prices of milk in Latvia as a whole may rise by 30% and in the future will also increase.

With the increase in purchase prices, the position of milk producers has improved, and milk processors have a harder time, since this increases the cost of production, and its final price cannot be raised, because then no stores or buyers will take it.

A negative impact on milk processing and the increase in electricity prices in August. Electricity bills have increased and at grain growers, so now the peasants are trying to resolve the situation by common forces, Murniece added.

The fixed capital of Smiltenes piens, established in 1993, is 472,962 thousand euros, it is owned by 20 shareholders.

See also ... 25/05/2016 Latvia provided € 6,2 million to its milkmen 19/05/2016 Latvia allocated € 6 million to save farmers 13/04/2015 Latvia: what to do with milk overproduction? 09/11/2015 Latvian farmers Brussels will receive € 8,45 million21 / 01/2015 Experts: EU dairy fines will break records 13/10/2015 Latvian farmers will receive EU money in 2016/20/11 The European Union has allocated € 2014 million28 / 21/10 Latvia to Baltic milkmen : Purchasing prices for milk fall again2015 / 19/04 Sholks: there hasn’t been so much milk in Latvia yet 2016/24/08 Baltic dairymen want to create a single brand Latvia's measures can still hope for help 2015/30/10 Latvia: milk prices collapsed to a new low 2014/07/06 Latvia: milk prices hit bottom in March2016/06/02 Latvia: farmers forced to sell cows Latvia intends to protest in Brussels

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