The average milk procurement prices in November 2017 increased by 16% YoY, according to information from Latvian Central Union of Dairy Farmers (LPCS).
LPCS chairman Janis Solks said that the average procurement price was EUR 327 per ton and 0.1% higher in comparison with October 2017.
He says milk procurement price has grown by 47% in 11 months of 2017 when compared with the same period of 2016.
Solks said that slight price fluctuations were already expected in October 2017. According to December 2017 predictions, milk procurement price should be slightly below the one recorded in November 2016, considering the change of the market situation.
According to him, milk processing companies procured nearly 3% more milk in November 2017 than in the same month of 2016. Nevertheless, the total volume of procured milk remained more or less unchanged.
LPCS unites milk processing companies and cooperation partners. Together they realize approximately 80% of milk processed in Latvia. (BNN/Business World Magazine)
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