“We are already working on next year’s financing for crop procurement and seeking compromises, but the situation is not simple. It was clear beforehand that agricultural product prices would have to rise, but no one could have predicted such a significant increase.”

Rising costs of raw materials and energy resources are also driving sharp price increases in agriculture. Indulis Jansons, Chairman of the Board of the Agricultural Cooperation Association of Latvia and Chairman of the Board of the cooperative society “VAKS”, warns that price fluctuations are the most dangerous factor, which could hit smaller businesses particularly hard. (...)