bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Monday 17.06.2019 | Name days: Artis, Artūrs
LatviaLatvia

2018 should not be worse than last year for food production companies

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe situation in Latvia’s food production industry continues slowly recovering. This year’s situation is not expected to be worse than last year, unless some unpleasant changes are added to tax legislation, says manager of berries and fruits processing company Purators Latvia Aigars Balodis.

«People do not spend less money on food; they spend more by buying high-quality food. The industry is still able to export and recover successfully from all the crises. This is why I believe the situation should not get worse, unless, of course, the tax policy makes Latvia’s food producers less competitive in exports,» says Balodis.

He also added that this is a good time for investments. However, everything depends on businesses’ ability to spot realization markets and sell products there. The industry still has considerable growth options abroad.

Balodis also mentions that export should be the first thought when considering long-term development. ‘We see more opportunities than obstacles when it comes to export markets. For this reason we invest in procurement of new production machineries,’ he continues.

At the same time, he added that with real products to offer the right clients it is possible to grow and develop on the domestic market. Latvian customers remain demanding because they want to buy quality and healthy products. They are prepared to pay more if need be. At the same time, there are also customers for whom the price is the most important factor.

According to Balodis, competition in the industry represented by Purators Latvia remains positive, because it encourages continued development.

He predicts that market segmentation will continue in the future – there will still be clients who prefer quality products, but there will also be clients who buy food for low prices. Entry of low-price stores in Latvia helps increase the range of choice for consumers. Producers have to be able to provide quality products to different categories of customers, adapting their products accordingly.

Information from Firmas.lv shows that Purators Latvia worker with turnover of EUR 22.151 million in 2016, which is 2.6% more when compared to 2015.

The company was registered in 1994 with a base capital of EUR 1,659,350, according to data from Firmas.lv.

On 27 April 2011, the company’s owner Pēteris Žimants announced its sale to Belgian private capital company Purators Group NV.


Leave a reply

Week in Lithuania: MP Gražulis in hot water, heat-related water supply disruptions in Kaunas

Last week, Lithuania marked the Day of Mourning and Hope, outgoing president Dalia Grybauskaite delivered her last annual address, president-elect Gitanas Nausėda spoke out against taxing owners of old polluting car, but MP Petras Gražulis suspected of bribery.

BNN summary of the week: Waiting for new Culture Minister; Misleading by Supreme Court chair; bank watchdog overhaul

In the past week in Latvia, changes were announced in the Financial and Capital Market Commission, which will have new a management and duties. A substitute has been proposed for Dace Melbārde as the Latvian Culture Minister after her election to the European Parliament. The conservatives have picked Nauris Puntulis, an opera singer and current Riga City councillor, for the post. The candidate gave an interview to BNN on his priorities in the post.

IN PICTURES: Victims of Communist genocide remembered in Latvia

At the Freedom Monument in Latvia on Friday, June 14, there was held a ceremony to honour the victims of the Communist genocide against the people of Latvia. The mass arrests of innocent people were committed on the night from June 13 to 14.

Moscow sees U.S. decision of another thousand troops to Poland as sensitive

The Russian government stated the Russian army was closely tracking U.S. plans to send an additional thousand of its troops Poland as a deputy minister criticised the move as probably «aggressive».

Europol: Risks of Russian money laundering still exist in Baltics

In the Baltic states, there still exist risks for the laundering of money from Russia, said official from European police agency Europol, Pedro Felicio, who works on anti-money laundering measures in the body. He added that the problem is amplified by «zero cooperation from the side of Russia».

Data: 47.3% Latvian restaurants had tax debt over last six months

47.3% of Latvian restaurants and cafes had a tax debt exceeding 150 euros in the past six months, yet the total taxes paid by the sector have surged by 19.87% on year, data by business database Lursoft showed.

Latvian parliament in no rush to discuss Jewish restitution payment of EUR 40 mln

The Latvian Saeima has postponed the discussion of a draft law to compensate the Latvian Jewish community in the amount of 40 million euros for property confiscated by totalitarian powers in the mid-20th century in the then occupied Latvia.

Latvian Supreme Court chairman blamed for misleading PM over new court

Latvian Supreme Court chairman Ivars Bičkovičs has misrepresented to the Prime Minister the opinion of the Justice Council on the plan of a new economic cases’ court, says Latvian Justice Minister Jānis Bordāns. Two members of the council voted in favour of the establishment of the new court, while nine members were against it.

Latvian Health Ministry pushing for fairer competition in medicines’ market

Seeking lower prices of medicines for patients on the Latvian market, the country’s Health Ministry, is working on measures to improve access to medicines.

Approved: Latvian financial watchdog to have new management, more duties

The Latvian parliament has passed amendments to the Law of the Financial and Capital Market Commission aimed at strengthening the prevention of money laundering and terrorism funding in the financial and capital market.

Latvia cancels healthcare funding system of «two baskets»

People in Latvia will maintain access to healthcare services in the framework of mandatory health insurance by 2021 just as now, regardless of insurance payments made.

Estonia confirms alcohol U-turn to recover booze tourists from Latvia

As Estonia tries to recover its alcohol customers lost to neighbouring Latvia due to high excise duty, the parliament in Tallinn has passed a 25% cut in excise duty rate.

All Souls’ Day two? Lithuania eyes new national holiday

Members of the Lithuanian Seimas propose making the All Souls’ Day a national holiday in the majority Catholic Baltic country adding one holiday to the calendar in early November.

Lithuania's next President set to take bull by horns in tackling poverty

Lithuania’s president-elect Gitanas Nausėda has touched one issue – social exclusion and high level of income inequality in Lithuanian society – a lot more than all the others.

Latvian aviation can reach level of Sweden in ten years, says Transport Minister

The aviation sector of Latvia could by 2030 reach with increased efforts the level of Sweden in terms of passenger numbers, flights and cargo handling per capita, stated Latvian Transport Minister Tālis Linkaits.

New Riga concert hall, pay rise to cultural workers – priorities of nominee for Latvian Culture Minister

Candidate for the Latvian Minister of Culture, Nauris Puntulis, listed to the construction of a new national concert hall in Riga and a pay rise to public cultural workers as his top priorities in an interview with BNN news portal.

Latvian ex-children’s home closed after violations, alleged crimes by ex-director

The operations of Latvian Family support centre Saulstari have been stopped by the Latvian Welfare Ministry over violations of law, while a criminal case against the former head of the children’s home continues.

Poll: Latvian government work receives historically highest rating: -25

The evaluation of the work of the Latvian government, despite still being negative, has this May reached its historically highest level, according to the results of the Latvian Barometer study prepared by SKDS pollster.

Damage recovery rights planned for Latvian State Audit

A Latvian Saeima committee approved on Wednesday, June 12, amendments to the State Audit Law to grant the institutional watchdog rights to recover damages from responsible persons over violations of law found during inspections.

For Latvia Jewish property restitution, 40-million- euro compensation proposed

To compensate to the Latvian Jewish community for the property that was illegally confiscated during the Holocaust and the Communist totalitarian regime, a 40-million- euro compensation has been proposed by the Development/For! party alliance.

Air quality in port city of Ventspils meets all requirements, municipality confirms

In the Latvian port city of Ventspils, the data of air quality monitoring meet all requirements, BNN learnt from the City Council’s chief expert of Environmental Monitoring, Tatjana Valdmane.

KNAB reprimands Lembergs’ deputy over accepting donation from mobile operator

Latvian Corruption Combatting and Prevention Bureau has reprimanded Guntis Blumbergs, the deputy of Ventspils City Council Chairman Aivars Lembergs, over accepting a donation from mobile operator LMT, according to information on KNAB’s website.

Amid fears of Latvian real estate tax hike, Kariņš pledges no dramatic increase

As the Latvian Justice Ministry has drafted new rules of the cadastre evaluation of real estate, Latvian Prime Minister Krišjānis Kariņš promised in an interview with the LNT channel not to permit a dramatic hike in real estate tax.

Russia frees, drops charges against journalist Golunov in «triumph of law»

Russian authorities have freed journalist Ivan Golunov from Latvian-based news outlet Meduza. The authorities also dropped all charges against the man, which, Golunov’s lawyer says, amounts to the triumph of law.

Turnover of Latvia’s State Forests up 20,1%, profits – up 22,8% in Q1

Latvian state forest management company Latvia’s State Forests has in the first quarter of 2019 reached a turnover of 89,751 million euros, which is an increase of 20.1% as compared to the respective period in 2018, data published by the company showed.