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Revenues of Estonian dairy industries grew by 10% in H1

BC, Tallinn, 30.09.2014.Print version
The Estonian dairy industry sales revenue in the first half of the year 2014 was by nearly 10% higher and profit increased by 1.7% compared to the same period last year, LETA/Public Broadcasting reports.

The dairy industry's total expenditures increased also by 10% over the same period, it emerges from the dairy industry survey in the first half of 2014.

 

The dairy sales revenue in the first half of 2014 was according to the Statistical Office 206.4 million euros, which was 9.8% higher than in the previous year.

 

"In the domestic market, the consumption of dairy products grew and despite the export ban imposed on several dairy industries at the beginning of the year to Russia, Belarus and Kazakhstan Customs Union, also dairy exports grew," said Agriculture Ministry Trade and Agricultural Produce Manufacturing Industry Department Head Taavi Kand.

 

Exports of dairy products had a turnover of 117 million euros in the first half of the year, which is 24% more than the same time last year.

 

At the same time, costs continued to increase in the first half of the year. The total costs increased by nearly 10% to 200.9 million euros, accounting for 97% of sales revenue.


Dairy industry produced in the first 6 months of 2014, 136,000 tons of milk products, by a fifth more than in the previous year.

 

The total profit of dairy industry was 5.6 million euros, a rise of 1.7%, according to initial data. In the second half of the year, the profit can be expected to decline as the impact of general Russian import ban, established on August 7 will affect it.

 

According to the Ministry of Agriculture calculations, dairy industry production accounted for 4.0% of manufacturing industry output and 24.9% of food industry production value.






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