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Estonian meat processing sector's profit falls 29% in H1

Staff Writer |
Sales of the Estonian meat processing industry fell only 0.7% in the first half of 2016 in spite of declining export revenues, while the total profit of the industry dropped 28.9% to 5.9 million euros.

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In spite of export revenue declining, the meat processing sector's revenue remains stable due to domestic consumption, but the sector's profitability is decreasing due to a decline in added value, the Ministry of Rural Affairs said.

The Estonian meat processing industry produced output worth 139.1 million euros in the first six months of the year, which is 0.7% more than in the same period a year earlier, while sales decreased 0.7% on year to 149 million euros.

Exports of meat and meat products declined 47.1% y-o-y to 40.6 million euros, and imports totaled 65.9 million euros or 39% less than in the first six months of 2015.

Estonia's meat processing sector is made up of on average 50 processing companies and small households. More than 90% of total revenue is earned by five bigger companies.

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