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Friday, 29.03.2024, 02:25
Rigas Piensaimnieks raises turnover by 7.5% in 2016
The company’s management says in the report that the year 2016 saw strong fluctuations of material and ingredient prices. “Instability restricted the industry’s growth potential and made it harder to work out predictable trade conditions in work with clients,” the management said.
Growing demand for dairy fat in the world was the main factor pushing ingredient prices up, the Rigas Piensaimnieks management said.
In 2016, Rigas Piensaimnieks bought from farmers and processed 26,074 tons of milk, which was a 2.4% rise against 2015.
In 2015, Rigas Piensaimnieks generated EUR 480,511 in profit on EUR 30.365 million turnover.
Rigas Piensaimnieks, established in 1993, makes around 100 products, including the popular Karums curd snack and Dzintars processed cheese.
Rigas Piensaimnieks is a member of Food Union dairy group, which also includes Rigas Piena Kombinats, Valmieras Piens, as well as Premia ice-cream producers in Estonia and Lithuania, Premier Is and Hjem Is in Denmark, Isbjorn Is in Norway, Alpin57Lux in Romania, Ingman Ice Cream in Belarus and Hladokombinat No.1 in Russia, as well as two dairy plants currently under construction in China.