Iecava district farm “Upmaļi” has agreed with “Swedbank“on cooperation to invest in the establishment of a new vegetable processing plant and warehouse.
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By investing half a million euros, “Upmaļi” will increase the supply of washed and peeled vegetable products to local and export customers, informs “Swedbank”.
“Upmaļi” was founded in 1992 and as a family business has developed in the segment of growing and selling fresh vegetables. Starting its economic activity with a couple of greenhouses, the farm has been able to grow into a modern company, which has not only expanded the range of products, but also increased production. The farm grows fresh vegetables on an area of 100 hectares.
“Upmaļi farm” proves that there is great business potential in the Latvian countryside. For many years, this farm has managed and developed only relying on its own earnings. “This farm is a proof that small and medium-sized businesses are the backbone of the economy,” says Lauris Mencis, Head of Corporate Banking at Swedbank in Latvia.
“Upmali” grows potatoes, carrots, onions and dill. Most of the grown products are sold in the local market – in local markets and also in the largest Latvian supermarkets. Also, part of the cultivated is exported to the nearest neighboring countries. Vadim Dernovoy, the farm ‘s manager, says that “one of the farm’ s goals has always been to be able to grow local food for the local market. As demand for vegetables grows, local people will have more job opportunities on local farms. “
The next goal of the investment projects is to build a new farm block and purchase a more modern vegetable packing line, as well as to renovate bunkers for vegetable storage.
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