Baltic Export, Financial Services, Foodstuff, Good for Business, Industry, Latvia, Markets and Companies

She said that after restriction of exports to Russia and CIS countries, the company’s turnover this year has dropped by 5.7% compared to last year, but the company plans to compensate it with a growth in other markets.

"We have found cooperation partners in Australia, and the first cargos with Latvian grey peas have been sent there. This year the largest export growth was in the Japanese market – by 121%, where the „Ukrainian Borscht” has been the most popular product. Also, there was a 43% rise in the Lithuanian market, a 2% rise in the Irish market. We are looking for new export markets to compensate for loss in the CIS countries," she said.

Cape said that the company plans to expand the assortment of its products and focus on its two main brands this year – Milda and Gardigan.

The company’s board last year changed the financial year to the calendar year. The previous financial year lasted from June 1 until May 31. In 2015 the company reported on a seven-month period – from June 1 until December 31. The company’s sales in this period reached EUR 2.93 mln, and loss reached EUR 54,195.

Milda KM is a manufacturer of tomato sauces, ketchups, mayonnaise and preserved foods under the brand names of Milda, Gardigan and Maija Un Paija.

The company’s registered capital is EUR 2,322,000 and last year it employed 62 people.