RIGA, March 31 (LETA) - Farmers' cooperative society Latraps posted EUR 151.785 million in turnover in the first half of financial year that ran from July 1, 2025 to December 31, 2025, which is 9.3 percent less than in the same period of the previous financial year, while the cooperative's profit increased 10.3 percent to EUR 4.552 million, the company released in a statement to the Nasdaq Riga Stock Exchange.

Roberts Stripnieks, Chairman of the Board of Latraps, reports that despite the challenging weather conditions that affected the agricultural sector during the season, the cooperative achieved strong financial results and continued to strengthen its competitiveness, as well as promote sustainable growth.

Stripnieks notes that the introduction of the new transport app Strops will help streamline logistics and create new opportunities for both carriers and farmers.

The cooperative notes that wet weather conditions during the 2025 season posed a challenge for many farmers, and the Latraps team continued to provide support and assist farmers in this challenging situation.

Latraps notes that harvest volumes varied significantly by region last season. Wet weather limited grain harvesting in some regions, while in others it helped achieve high harvest volumes, also affecting quality.

In the coming years, the cooperative plans to focus particularly on increasing the capacity of regional grain pre-processing facilities.

Similarly, modernization work began at the end of last year in Jaunpagasts, Jekabpils, and Aizkraukle, with 40 percent co-financing from European Union (EU) funds, amounting to EUR 1.69 million.

Latraps, represented by the German insurance cooperative Vereinigte Hagel, continues to offer farmers the opportunity to insure their crops. During the reporting period, the value of insured crops reached EUR 72 million.

In the first half of the previous fiscal year, which ran from July 1, 2024, to December 31, 2024, Latraps reported turnover of EUR 167.391 million, which is 3 percent less than the same period of the previous year, while the cooperative’s profit decreased by 17.4 percent to EUR 4.127 million.

Latraps posted EUR 254.28 million in turnover last financial year that ran from July 1, 2024 to June 30, 2025, which is 4.1 percent more than in the 2023-24 financial year, while the cooperative's profit decreased 2.9 percent to EUR 2.738 million, according to Firmas.lv.

Latraps was registered in 2000 and has 1,220 members.