"Prices for raw materials in Lithuania are too high for us to operate at a profit. We have already concluded a contract to import raw milk from Germany and Poland," Raimondas Karpavičius, the chairman of MPK's management board, told the paper.
The reason for this price rise is that cooperatives are increasing their grip on the market, dictating the terms and charging prices that are higher than EU prices, Karpavičius said.
MPK estimates that the price of imported milk, including delivery, will be 5-10 percent lower than that of milk purchased in Lithuania. The company will process all imported milk into dairy products for its customers, the chairman said.
The company is projecting 400 million litas (EUR 116m) in revenues this year, up from 324 million litas in 2011.