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January 3, 2012

 

Latvia's milk purchase prices to stay at same level
 

 

Latvian dairies said that milk purchase prices will not increase until the end of January.

 

Preilu Siers dairy company board chairman Jazeps Snepsts told BNS that even though milk purchase prices in Latvia are influenced by events in the sector abroad, no price hike is expected by the end of January. "Speaking about purchase prices, I believe that they will remain unchanged by the end of January," he said.

 

He said that the situation in the world's largest milk producer countries should be followed. "In January we will see what the stocks of the large milk producer countries - Australia, New Zealand - are and then we will see what subsidies regarding export will be offered by the US, and after all these factors we will see what to do next. As the volume of milk produced in Latvia is growing, it means that the export market becomes more important," he said, adding that only 60% of the milk processed in Latvia is sold in the domestic market.

 

Latvian Central Union of Dairies (LPCS) board chairman Janis Silks told BNS that by the end of January no growth of milk purchase prices can be expected. "Taking into account the agreement, it should be understood that prices cannot be suddenly raised or reduced. Agreements are binding to both parties. Speaking about milk purchase prices offered by Latvian dairies, it can said that they will not change by the end of January," said Silks.

 

In November 2011, the average milk purchase price rose by 3% from October to LVL209.5 (US$388.78) per tonne.

 

The Latvian Central Union of Dairies has as its members 16 dairy companies which together account for about 90% of milk processed in Latvia.

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