With increased investments, Latvian farmers have managed to increase efficiency in the industry, a bank survey showed.
According to the results of a survey performed by Swedbank, in 2017 farmers plan to invest money in grain dryers and towers, in updating machinery and buying agricultural land.
“It is positive that farmers recognize that new technological solutions in agriculture improve efficiency. Farm managers mostly choose to introduce GPS systems, nitrogen sensors and automatic fuel sensors,” comments the bank’s agriculture specialist Raimonds Miltins.
Results of the survey also showed that over the last five years profits from one hectare of land before taxes and wear and tear had averaged around 330 euros in Zemgale region, 280 euros – in Kurzeme, 250 euros – in Latgale. (BNN/Business World Magazine)