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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 00:09

Balticovo penetrates U.S. market in wake of bird flu crisis

BC, Riga, 21.07.2015.Print version
The joint-stock egg and egg products producer Balticovo has started exporting eggs to the United States, penetrating this market following the recent bird flu outbreak in the country. Exports to U.S. will make up no more than 20% of the total produce, the company's CEO Andris Platais informed LETA.

"For more than ten years, the U.S. market remained closed, as it was a self-sufficient leading egg exported, with the country being the world's second largest egg producer following China. Egg imports became a necessity due to the crisis in U.S. poultry farming, where laying hens were infected with bird flu. This resulted in more than 48 million laying hens and turkeys or 70% of all hen flocks in the affected areas had to be culled," said Platais.

 

Balticovo’s business partner in the United States is one of the largest egg processors in the world, providing well-known brands with egg products. Balticovo’s exports will be used in industrial food production (mayonnaise, sauces, confectioneries, etc).

 

Platais said that the company has received regular orders for a period of 12 months. "Transportation of eggs is carried out via thermal ship containers. Road from Iecava to the United States takes about three weeks. The first cargo was sent out on July 17," said Platais.

 

Balticovo was registered in Iecava in 1992, the company's share capital is EUR 4,407,806.


In 2013, Balticovo posted EUR 39.76 million in turnover, which was 18% less than in 2012 – EUR 48.72 million.






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