Farmers discussed future cooperation with bank representatives

Today, the associations "Farmers' Assembly", LPKS "Latraps" and LPKS "Vidzeme Agro-economic Cooperative Society” management met with the “Association of Latvian Commercial Banks”, "Latvian Leasing Association", including representatives of SEB banka, Swedbank, Citadeles, Altum and Luminor banks, to inform about the situation in the flood-affected areas, listen to the opinions and suggestions of creditors, as well as discuss future cooperation opportunities to support farmers.

Juris Lazdins, Chairman of the Association "Farmers' Council": "The meeting took place in a constructive atmosphere. It is pleasing that the bank representatives had surveyed the farmers to clarify the current situation and could offer the best possible solutions to overcome the situation with less losses. However, it should be noted that each case is individual and is resolved accordingly. If a farmer has encountered financial difficulties, we encourage them to contact the relevant credit institution in a timely manner. It is positive that the banking sector's cooperation with farmers will not change and there will be no repression. During the meeting, we identified 5 points that we will work on and, if necessary, we will meet again."

“The banking industry always treats its customers and cooperation partners with understanding. Our members have been accommodating to farmers in critical moments both in the past and now. Once again, we urge farmers in the rain-affected regions to individually contact their trusted bank to jointly seek the best solutions,” says Sanda Liepiņa, Head of the Latvian Commercial Banks Association. "We also call on Latvian farmers to insure their crops to mitigate future risks, to rethink the planning of their financial resources and, importantly, to come to banks in a timely manner with possible solutions to the situation," adds Mrs. Liepiņa.

Chairman of the Board of LPKS "Vidzeme Agro-economic Cooperative Society" Indulis Jansons: "The meeting with bank representatives was very important and necessary. Banks understand the seriousness of the current situation in agriculture. Harvesting work and assessing the situation are still underway on many farms. Both farmers and cooperatives, together with banks, are ready to address non-standard current issues and future situations."

The chairman of the association "Farmers' Council" met today Juris Lazdins, Vice-Chairperson Maira Dzelzkalėja-Burmistre, agricultural policy expert at the "Farmers' Assembly" Martin Throne, General Director of LPKS "Latraps" Edgars Ruza, Chairman of the Board of LPKS "Vidzeme Agro-economic Cooperative Society" Indulis Jansons, representatives of "SEB banka" Arnis Škapars, Maris Larionovs and Janis Mazurenko, representatives of Citadele Bank Karl Kronbergs and Guntis Mincis, representatives of Swedbank Rolands Zeltins and Raimonds Miltins, representative of Luminor Bank Krisjanis Znotins, Chairman of the Board of Directors of Altum Reinis Berzins and representatives of the "Association of Latvian Commercial Banks" Sanda Liepina and Aivars Graudins. Head of Leasing at SEB Bank Elena Gavrilova, Head of Leasing at Swedbank Andrei Ananyev, Head of the Legal Committee of the Latvian Leasing Association Katie Tola.

We have already informed that in the flood-affected areas 10-15% of the areas were not threshed at all. Part of the grain had fallen and only the ears pointing upwards could be threshed, the yield per hectare decreased by approximately a third. In total, the crop losses amount to approximately 30-50%. Most of the grain is of critically low quality, and therefore the purchase price is very low. The moisture level of the grain was very high, which resulted in increased drying costs. This year will also affect next year's harvest, because in many places the land is not fertile and it is not possible to sow winter crops. Winter crops in the flood-affected areas account for 30-40 % of all sown areas.

PRes_Farmers discussed future cooperation with bank representatives