Agriculture, Banks, Good for Business, Latvia

The loan has been granted to enable Dobeles Dzirnavnieks to quickly pay the farmers for the grain they deliver to the grain mill. “In the long-term perspective, availability of the money will allow Dobeles Dzirnavnieks to pay the farmers for the purchased grain quickly so they can properly prepare for the next sowing season,” said Ieva Vigante, head of corporate banking division at Swedbank Latvia.

Dobeles Dzirnavnieks CEO Kristaps Amsils noted that the company plans to purchase more than 300,000 tons of grain this year. He said that Dobeles Dzirnavnieks processed 226,000 tons of grain in 2017, which was by 39,000 tons more than the previous year and that the company intends to boost its production capacity this year.

In 2017 Dobeles Dzirnavnieks purchased grain from more than 550 suppliers, of which 90% were local farmers.

Dobeles Dzirnavnieks operated with EUR 113.7 mln in turnover in 2017, which was 27% more than the previous year. The company also posted EUR 4.17 mln in profit.

Dobeles Dzirnavnieks, founded in 1991, has a share capital of EUR 3.78 mln. Since 2008 the company's largest shareholder is Estonian company Tartu Mill. The main business operations of Dobeles Dzirnavnieks include storage and processing of grain and grain products, production of all types of flour and flour mixtures, production of semolina, pearl barley, food grade bran, processing of buckwheat, packing of food products, wholesale, retail sales and supply of fodder in the whole territory of Latvia.