Dairy industry in Latvia is on the verge of bankruptcy due to rising energy prices

February 7, MINSK. The sharp rise in purchasing prices for energy carriers hit the dairy industry in Latvia. This was stated by the chairman of the board of the Latvian dairy company Elpa Gundar Sisenis, according to RuBaltic.

According to him, the dairy industry in Latvia is forced to operate below cost, which could soon lead to bankruptcy. "There has never been such a dramatic situation in the dairy industry. No enterprise can work at a loss for a long time," Gundar Sisenis told the Latvian newspaper Neatkariga.

To date, 54 dairy enterprises have been registered in Latvia, of which 23 are operating, but all of them are experiencing difficulties. This is especially true for those manufacturers that produce products for daily consumption - MILK , butter, sour cream, cottage cheese, cheese.

In December 2021, Janis Šolks, Chairman of the Board of the Central Union of Latvian Dairy Producers, already warned that the Latvian dairy industry was in deep crisis. He also stated that, despite appeals to the government, state institutions still have not realized the depth of the crisis and have not taken any action to save the industry.