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Wednesday, 24.04.2024, 11:03
Latvian grain farmers expect EUR 220 mln losses in 2014
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According to data provided by the farmers' cooperatives, prices of wheat have decreased by 36.6% or EUR 86.30 per ton between January 2013 and September 2014. September registered the lowest wheat price – EUR 149.5 per ton; in 2012 the price was EUR 520. Grain farmers say that the reduction in prices, re-sowing of winter crops, as well as additional crop drying costs due to this season's wet harvest, have caused losses in the amount of EUR 220 million. Several farms are facing bankruptcy.
"We hoped to deal with the problem on our own, however, the low grain prices in combination with high cost of re-sowing and this year's wet season have taken their toll on us. We must take into account that the previous harvest year was not very successful either. As a result, the situation on many farms is grave," CEO of cooperative "VAKS" Indulis Jansons said.
The total grain harvest in Latvia this season reached about 1.916 million tons, which is 11% more than the average gain harvest of the past five years.
A total of 644,000 hectares of land were sown with grain, which is 10% or 60,000 hectares more than in 2013.
In 2013, the total grain harvest in Latvia was 1.9 million tons, as compared to the all-time record – 2.1 million tons – in 2012.
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