Luminor supports the development of ZS Kotiņi with almost 3 million euros

12.09.2022

Luminor Bank has granted a loan of 2.9 million euros to support the expansion, development, and diversification of production of the Kotiņi farm. The loan will be used to set up a pelletizing and extrusion complex and to purchase agricultural machinery.

ZS Kotiņi is one of the largest seed producers in the Baltics and is a member of the Latvian national food quality scheme. The farm also produces high quality food and feed.

"We have developed over 30 years into a world-class farm, and since our foundation our core business has been grain and seed production. The work of the farm has been appreciated by government officials and visitors alike. We are happy to welcome visitors, educate and introduce them to what we do, show them the latest and most modern farming techniques, which is why our farm is also popular with tourist groups. We farm smart, sustainably, and competitively. We are committed to continuous growth and development in our sector, and to organic and environmentally friendly farming. We are very focused on making our food chain sustainable from the field to the dinner table," says Aldis Ločmelis, owner of ZS Kotiņi.

The farm Kotiņi, located in the parish of Šķilbēni, Balvi municipality, started producing food in 2010, and its first product was rapeseed oil.
"Cereal farming, with one of the largest shares in the total agricultural commodity structure, plays an important role in Latvian agriculture. The sector has stable production figures, and cereals account for about half of the total area planted. We have supported ZS Kotiņi because the farm's business development indicators have been very convincing in recent years and we are pleased that the company has found niche products to diversify its product range," says Ilze Zoltnere, Head of Luminor's Corporate Department in Latvia.

The online shop and the on-farm shop at ZS Kotiņi sell everything produced on the farm – certified cereal seeds, feed flour, oil, food and other products.

About ZS Kotiņi
The Kotiņi farm manages 3000 ha of land, of which 2200 ha are high quality certified seed fields. The farm grows wheat, barley, rape, beans, peas, oats, hemp, flax, mustard, radish, buckwheat, rye, and various grasses. From the harvest, it produces a variety of food products, such as pearl barley, shelled and split beans and peas, various flours, unrefined rapeseed oil, etc. Almost all the products of the Kotiņi farm have the green spoon quality label.

About Luminor
Luminor is the leading independent bank in the Baltics and the third-largest provider of financial services in our region. We serve the financial needs of individuals, families, and companies. Like the Estonian, Latvian and Lithuanian markets, we are young, dynamic, and forward-looking.