Baltic Export, Estonia, Foodstuff, Good for Business, Industry, Markets and Companies

"The development of the companies is going according to plan and we are moving at the desired tempo," Katre Kovask, chairman of the management board of Tere AS and Farmi Piimatoostus AS, said.

"According to the research company Nielsen, the market share of Tere and Farmi Piimatoostus on the fresh dairy products' market in Estonia is approximately 40%, making us still the market leaders. We consider the greatest successes of the first nine months to be the continued export revenue growth, thanks to powerful product development we made it to the innovation stand of the largest food exhibition of Europe, SIAL, with altogether four products and achieved first place in the ranking of Estonia's most competitive food industries in a study organized by the Chamber of Commerce and Industry," Kovask said.

She said that the recent cooperation agreement with the Japanese company Marubeni will also raise Tere and Farmi to a higher league in terms of quality class, which will create new possibilities in the sale of commodity products.

"In addition to our larger export partners of chilled dairy products in Finland and Latvia, we also started supplying to Sweden's largest retail chain ICA in the third quarter," Kovask said. "All in all, the products of Tere and Farmi are reaching more than 15 export countries across the world today, among other things we are supplying commodity products both to North Africa and Southern Europe," she said.

Tere AS and Farmi Piimatoostus AS is an Estonian dairy group, the joint market share of which on the fresh dairy products' market is approximately 42% and which stocks up on up to 450 tons of milk daily. There are altogether 541 people working at the production units and the central office of the group. The consolidated revenue of Tere and Farmi was 106 mln euros in 2017, with export making up 16% of it.