April 11, 2016

Estonia's dairy export turnover drops 30.5% in 2015

Estonia's turnover of its dairy exports tumbled 30.5% last year, to EUR133.5 million (US$152.4 million).

According to the country's Ministry of Rural Affairs, the drop shows that new export markets have not been found. In the meantime, milk and dairy outputs overtook local consumptions, LETA/BNS reported.

In 2015, the Estonian dairy sector's revenue slid by 14.7% to EUR335.8 million (US$383.3 million) while investments nosedived 40% to EUR15.5 million (US$18 million). The overall production of raw milk fell 4% to 773,700 tonnes.

During the final quarter of last year, the dairy sector suffered a loss of more than EUR724,000 (US$827,000). In the same period, overall profit was EUR18.2 million (US$21 million), based on preliminary figures of Statistics Estonia.

- The Baltic Course