Baltic Export, China, Foodstuff, Good for Business, Latvia, Markets and Companies

This is so far the company's farthest export destination in the East. Rigas dzirnavnieks will export its "Herkuless" oatmeal products with a new flavor created specifically for the Chinese market.

Rigas dzirnavnieks board member Zilvinas Pakeltis explained that Hong Kong is the company's first step toward China.

"This is a challenging market, which offers unlimited opportunities and potential for any Latvian producer. For the second consecutive year, we are pursuing more aggressive expansion into new markets. Taking into account the significant proportion of export to Russia, new markets allow us to differentiate the risks. Uncertainty in the Russian market forces us to seek new alternatives," Pakeltis said.

In 2014, the company successfully began exporting its "Herkuless" products to Italy and the United Arab Emirates.

Currently, 70% of Rigas dzirnavnieks products are sold in the Baltic region, while 30% is exported elsewhere. The European Union, Russia, and other regions in the world are the main export markets.

From January 1, 2013 until June 30, 2013, Rigas dzirnavnieks turnover totaled EUR 12.217 million and profit EUR 209,816, according to information provided by "Firmas.lv".