Category: Uncategorized

The Cabinet of Ministers has approved amendments to the procedure for granting state support for the promotion of agricultural and fisheries markets. The goal is to promote agriculture, fisheries, and the food industry, as well as to strengthen the value growth and export of products from these sectors.

For this purpose, one million euros of state funding is planned for 2025 from the budget sub-program “State support for agriculture and rural development” under the Ministry of Agriculture. These funds are allocated for the following market promotion activities:

• Organizing and participating in international exhibitions with joint stands representing the Latvian agricultural and food sector,
• Co-financing participation in international agricultural and food exhibitions abroad,
• Co-financing participation in joint stands, and
• Implementing a marketing program for the development of coastal fisheries.

The Rural Support Service will administer the activities receiving state financial support — it will accept and review applications, make decisions, and disburse the corresponding support funds. Meanwhile, participation in joint stands, considered a subsidized service, will be organized and administered by the Institute of Agricultural Resources and Economics.

Source of information: Ministry of Agriculture

From April 14 to May 14 farmers and processing companies can apply for support under the measure “Investments in Tangible Assets” to make investments in farms and enterprises. Support is available in two sub-measures.

4.1: “SUPPORT FOR INVESTMENTS IN RURAL FARMS”

The aim of this measure is to support rural farms and their investments in energy efficiency, the use of renewable energy, and emission reduction, as well as ensuring alternative energy sources in emergency situations. Various types of investments are eligible for support in organic farms. However, support is not granted for the purchase of agricultural tractors and self-propelled harvesting machinery.

Available funding allocation for this support measure:

• Small farm group: EUR 2.4 million;
• Medium and large farm group: EUR 5.6 million;
• Cooperative societies: EUR 2 million.

4.2: “SUPPORT FOR INVESTMENTS IN PROCESSING”

The available funding for this sub-measure is EUR 2 million. The goal of the measure is to promote the use of renewable energy in agriculture, the installation of equipment, or the provision of alternative water resources necessary for business operations in emergency situations.

Within the measure, only investments in the purchase of fixed assets and construction are eligible, as long as they are necessary for the installation of renewable energy production equipment or the establishment of deep water boreholes.

The deadline for project implementation is no later than October 1, 2025. Project applications must be submitted through the Rural Support Service’s Electronic Application System. Projects can be implemented with support from the European Union’s European Agricultural Fund for Rural Development and the Rural Development Programme for the 2014-2020 planning period.

Information source: Rural Support Service

As of March 5, the bonds of the Latvian agricultural cooperative LPKS LATRAPS have been listed on the Nasdaq Baltic First North market.

This is a historic event, as it marks the first time that securities of a Latvian agricultural cooperative have been traded on the stock exchange, providing a broader range of investors with the opportunity to invest in a promising company and contribute to the growth of Latvian agriculture.

Latraps, the leading cooperative in Latvia’s agricultural sector, raised EUR 8 million during its public bond offering in December 2024 to establish ASNS Ingredient, the largest pea protein isolate production plant in Northern Europe. Interest from private and institutional investors was significant, with total demand for bonds exceeding EUR 12 million – 50% more than the initial issuance target.

“In nearly 25 years, we have built a strong and competitive cooperative that unites more than 1,220 members. Previously, only LATRAPS members could invest in our growth, but with this bond offering, we have opened the opportunity for a wider Baltic investor base to take part in shaping Latvia’s agricultural success story. We are honored to join the ambitious companies of Nasdaq Baltic First North and thank over 300 Baltic investors for their trust. Together, we can make the names of Latvian agriculture, LATRAPS, and ASNS Ingredient resonate globally – in the world economy and every kitchen,” emphasized Roberts Stripnieks, Chairman of the LATRAPS Board.

The launch of these securities on the market was symbolically marked worldwide with the ringing of the stock exchange bell and an announcement on the screen at Times Square in New York. Today, the stock
exchange bell rang in a special acoustic venue – Mežaparks Grand Stage – where the event was attended by Minister of Agriculture Armands Krauze, who highlighted that LATRAPS’ public bond issuance is a significant step not only for the cooperative but also for the overall development of Latvian agriculture.

Information source: Latraps