Foodstuff, Latvia, Markets and Companies

He said that bakers had been negatively affected by the coronavirus pandemic. The effect was not felt during the first month of the pandemic, but turnovers dropped later on.

According to Zemess, the biggest drop was observed in the confectionery and dough products segment. People are less visiting each other, not having big celebrations any more. Also, due to sedentary lifestyle, working from home, some people started cutting their confectionery consumption.

Also, some people saw a drop if income due to growing unemployment. People started to cook more at home, and shop less. The bread market was also affected by remote studies at schools as there was no need to supply bread for school meals.

In May, June and July, turnover of bread market dropped by 15% compared to the respective period last year.

The pandemic also affected exports. None of the companies working in the sector were entitled to any benefits because the drop in turnover was not as big.

Zemess said that despite the uncertainty, companies continue work. Large bakers offer lower prices, attempting to keep their market share. Smaller bakeries have started home deliveries of their products.