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2013.12.12 08:59

Russia’s import bans and increase in milk price reduced the profit of Lithuanian dairy producers

DELFI|The Lithuania Tribune2013.12.12 08:59

 Lithuanian dairy producers calculated the results of nine months activities in 2013.

 Lithuanian dairy producers calculated the results of nine months activities in 2013.

It turned out that Russia’s ban on dairy imports and an increase in milk price have reduced the profit of dairy producers. However, it does not apply to all companies, writes The Baltic Course, referring to the news agency ELTA and daily Kauno diena.

On Tuesday, Vilkyškių Pieninė announced that the revenues of the company at the beginning of the next year should further increase. The sales of the company for period January – November 2013 amounted to LTL 333 million (EUR 96.4 million) – 22.7 per cent increase comparing to the same period last year. The consolidated sales of the company for November 2013 amounted to LTL 31 million (EUR 9 million) and increased by 23 per cent comparing to November 2012.

According to Gintaras Bertašius, CEO at Vilkyškių Pieninė, sales of the company increased due to high prices in export markets. “There is no sign that prices would fall, I am speaking about the level, not about small corrections. I think that at the beginning of the year prices will remain high,” said Bertašius.

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