May 30, 2012

Lithuania eyes for 2012 record grain harvest

Since the restoration of independence, Lithuania's grain harvest this year is expected to be the best, the business daily reports on Tuesday (May 29).

"Lithuania's exporters will have to enter the markets in Latvia, Estonia, Poland, Russia's Kaliningrad region," Vilius Kaikaris, CEO of Siaures Vilkas, told the daily.

The company Agrokoncernas this year plans to harvest 100,000 tonnes of grain crops. The companies associated with the concern will export approximately 800,000 tonnes.

Linas Agro Group, the agricultural investment company, plans to export 500,000 tonnes of grain from Lithuania and Latvia.

Meanwhile, KG Group will invest LTL46 million (US$16.6 million) in the expansion of its poultry farms. It will build a new egg plant together with partners from Israel. This new facility, which will export its almost entire output, will require 60,000 tonnes of grain per year.