Latviski English По-русски
Ceturtdiena 19.10.2017 | Name days: Drosma, Drosmis, Elīna

Balticovo: speculative feed grain prices complicate situation in the industry

(+1 rating, 1 votes)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU, Arnis Veinbergs

Balticovo head Arnis Veinbergs

Although due to speculative feed grain prices the situation in the sector is complex, Latvia’s population has returned to the tradition to cook at home, boosting eggs sales. For example, last year 500 million eggs were produced – one for each European Union citizen, Balticovo head Arnis Veinbergs points out in an interview to the business news portal BNN.

What are the recent key events in your sector?

It is the fact construction of liquid egg mixture or melange factory is coming to end. The investments placed amount to around two million euro. It will allow producing products with added value. We plan to export 95% of the total production, because melange is highly demanded in the Western Europe. The new facility will enable production capacity of five tons of melange per hour.

Speaking of the overall situation in the industry, last year was not very easy due to speculative feed grain prices. At the same time, in the economic crisis conditions people are buying more eggs because many have returned home-cooked meals. Moreover, eggs are still the cheapest source of animal protein.

Do you feel the lack of skilled labour?

No, we do not.

What changes would you like to see in the Latvian legislation?

More attention should be paid to the state functions assessment, because it seems the function audit is superficial. It should be revised whether the state monitoring institutions’ resources are made efficient use of. Institutions should carry out their core functions, creating equal business environment, rather than filling up the State Treasury by means of repressive measures. For example, the VAT collection system should be changed, as the state still collects this tax on transactions that have not taken place yet.

How did the crisis affect your industry?

Despite the fact last year we managed to produce 500 million eggs – enough to give one egg to each European Union citizen, compared to the previous year, in 2010 the turnover dropped 5.8%. This was tied to fluctuating egg prices, propelled by speculative feed grain prices and other conditions resulting from the economic downturn. Although the company’s production grew 10% and we produced half a billion of eggs over the year, the turnover shrank because the price of eggs fell across the European Union.

When will your company attain the pre-crisis performance?

It depends on the economic recovery and more moderate speculations on the feed grain market.

What is your assessment of the government’s policy to improve the economic situation?

Currently, it is negative, because practically nothing is done to foster the business environment. The possibility of setting up a micro-business is just a drop in the vast sea of work still ahead.

Leave a reply

  1. hemen parekh says:

    A Full Blown Crisis ?

    World Bank president Robert Zoellick warns that the world is one shock away from a full-blown crisis.

    Here are my guesses re: where that one shock may come from :

    > European Invasion [ Libya ]

    > Ethnic Massacres [ Africa ]

    > Population Explosion [ India ]

    > Regimes Overthrow [ Middle East ]

    > Nuclear Nemesis [ Japan ]

    > Economic Collapse [ PIGS ]

    > Overheated Economy [ China ]

    > Melting Snows [ Poles ]

    > Terror Exports [ Pakistan ]

    > Food Shortages [ Developing Countries ]

    > Global Warming [ Worldwide ]

    Feel free to add your own.

    There is no doubt that in 2011, a “ Black Swan “ event is around the corner !

    With regards

    hemen parekh

    Jobs for All = Peace on Earth

    Thumb up 0 Thumb down 0

Prime Minister: Latvia cannot accept additional asylum seekers

Latvia cannot afford to resettle additional asylum seekers, said Prime Minister Māris Kučinskis during his meeting with European Commission President Jean-Claude Juncker on Thursday, 19 October.

Scandinavians purchase tourism company in Lithuania; changes expected in Latvia too

Dutch Otravo online travel organization has expanded and has purchased Lithuanian online travel agency Interno Partneris, thereby entering the Baltic market.

Ombudsman: non-citizen status matter should be resolved in next decade

The next ten years may be the transition period to ‘put an end’ to the non-citizen status in Latvia, said ombudsman Juris Jansons in an interview to LTV programme Rīta panorama.

Swedish Foreign Minister: harassment exists at highest political level

The Foreign Affairs Minister of Sweden, Margot Wallström, has commended the current sexual assault and harassment awareness campaign in social media and urged to fellow politicians to address the problem.

Latvenergo recognized as Latvia’s most valuable company for tenth time

Latvenergo has been recognized as Latvia’s most valuable company in 2017. Its value grew 34% in comparison with 2016, according to the TOP 101 list of Latvia’s most valuable companies compiled by Prudentia and Nasdaq Riga.

Number of births and number of deaths decline in Latvia

During the first nine months of this year 15,723 babies were born in Latvia, which is 1,113 children fewer than in the corresponding period of the last year.

CC applies binding conditions for the sale of MTG Broadcasting AB

Latvian Competition Council has decided to permit Bite Lietuva to purchase MTG Broadcasting AB group’s businesses in Latvia. CC has applied several binding conditions to prevent a possible impact on competition on the television services and advertisement market.

Eesti Energia warns: Limiting CO2 emissions on capacity could endanger energy supply

Estonian energy giant Eesti Energia has evaluated that a plan under discussion in the European Union to introduce a carbon dioxide release limit for capacity mechanisms to qualify for subsidies could adversely affect the security of supply in Estonia and the Baltic states.

Solidarity tax norm recognized as non-compliant with Latvia’s Constitution

On Thursday, 19 October, the Constitutional Court of the Republic of Latvia declared the Solidarity tax norm as non-compliant with the country’s Constitution.

Survey: Riga residents go to the doctor’s the most often

34% of residents undergo regular health checks, according to Mana Aptieka & Apotheka health index. In addition, women are twice as serious about health checks as men.

LG cozies up with idea of rebuilding railway tracks to Reņģe, Latvia

Lithuania‘s Lietuvos Geležinkeliai has sent a mixed message as to what it intends to do next following an EC fine of nearly 28 million against it over the dismantling a 19-km railway stretch with the Latvian village of Rengė.

Čigāne: European Union’s social pillar is very important to Latvia

On Wednesday, 18 October, Saeima’s European Affairs Committee approved Latvia’s national position on the introduction of EU Pillar of Social Rights.

40% of all car problems are relate to lighting, battery and security systems

It has been determined that 41% of all car problems are related to lighting devices, 39% of problems are related to malfunctioning batteries, and 44% of problems are related to security systems.

Xi Jinping: Chinese socialism has entered new era

China's ruling Communist Party's five-year congress has been opened with the country's President Xi Jinping outlining a general plan for the future development of China.

Public transport in Latvia procurement may be at risk

Considering that continued and unhindered provision of public transport services on ten routes may become at risk from 1 January 2018 onward, Public Transport Council made a decision to ask the Road Directorate to sign a new contract to ensure services are available in multiple Latvian cities, as confirmed by Road Directorate.

Iraqi forces retake disputed territories from Kurdish forces

Three weeks after the Iraqi Kurdistan independence referendum, forces of the Iraqi central government have taken control of the territories in the country, which had been seized by Kurdish fighters after victories over the terrorist group «Islamic State».

Sale of MTG’s business in Baltics to Providence concludes successfully

Wednesday, 18 October, marked the successful conclusion of the sale of Baltic assets owned by Swedish media concern Modern Times Group to Providence Equity Partners. From now on companies previously owned by MTG in Baltics will function as a single organization named All Media Baltics, as confirmed by the company’s manager Pierre Danon.

Estonian port company makes 29% more revenue in January-September

Estonian state port company Port of Tallinn has made the revenue in the amount of 99.1 million euros in the first nine months of 2017, which is a 29% increase compared to January-September in 2016.

42 gambling halls to be closed down in Riga in next five years

On Wednesday, 18 October, Riga City Council supported plans to close another 33 gambling halls in the city. With that, a total of 42 gambling halls will be liquidated in the next five year.

Latvia has the highest index of female CEOs among EU member states

The highest index of female CEOs among European Union member states belongs to Latvia – 47%. In total, only 33% of CEOs in EU were female last year, according to data from the Central Statistical Bureau of Latvia.

Survey: more and more people take notice of benefits provided by EU membership

65% of Latvian residents believe the country’s membership in the European Union has brought tangible benefits. A similar opinion was voiced by 64% of residents of all EU member states in the Eurobarometer study performed by the European Parliament.

17 persons in need of international aid are relocated to Latvia from Turkey

On Tuesday, 17 October, seventeen individuals, including nine children, in need of international protection were relocated to Latvia from Turkey as part of EU resettlement programme, as confirmed by Latvian Office of Citizenship and Migration Affairs.

BATL: to avoid crisis in transit sector, government and Transport Ministry must act

Latvian Prime Minister Māris Kučinskis’ led Latvian Ports, Transit and Logistics Council also supports Saeima’s National Economy Committee’s decision on the need for Transport Ministry to develop a long-term vision for the development of the country’s transit industry.

Psychologist: six-year-old children are not ready for school

«It is wrong to believe that the sooner a child starts going to school, the better their academic results will be. Reforms are performed aggressively, without asking pedagogues or other specialists for their opinion. We lack a comprehensive analysis of the current situation that would be based on studies, not international ratings,» says certified clinical psychologist and psychotherapist Jolanta Lamstere.

Klaipeda transport ticketing system to be installed by Estonian Ridango

In the Lithuanian port city of Klaipeda, Estonian firm Ridango has been selected for installing its technology on public transport.

Most read

Most commented