Agriculture, Foodstuff, Latvia, Markets and Companies
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Friday, 29.03.2024, 08:19
Balticovo expects drop in turnover this year
He reminded that 2017 had been very successful for the company
because other producers had been facing different troubles, including diseases
of poultry, and there had been a deficit of eggs in the market. The company’s
product prices rse, and the company increased its turnover successfully. This
year, however, there is a surplus of eggs and there is a shortage of good
quality grain due to poor harvests. Thus, Balticovo
will have to purchase more expensive grain from abroad.
"There is a drop of turnover already, the prices have
lowered to the level they had in 2016, while grain prices are by 30%
higher," he said.
Grimze said that there is a global demand for good quality
eggs for available prices. The company’s sales outside Europe have not dropped.
"We go into European markets and looking for new markets in Europe,
Southeastern Asia. For example, we have coordinated certificates in Hong Kong.
We are also working in South Korea and other directions," he said.
As reported, Balticovo
egg and egg products producer last year posted EUR 52.3 mln in turnover, up
17.3% from 2016, while the company’s profit reached EUR 10.8 mln which is four
time bigger than in 2016.
The largest shareholder in Balticovo is BCO company with 95.42%.