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19.08.2016 Weak ruble forces Lithuania's Malsena Plus to change export markets

Lithuania's grain processor Malsena Plius, which exportsaround one-tenth of its products, says that the weak ruble has forced it toswitch from Russia and Belarus to other export markets, noting a recentincrease in flour sales to African countries, informs LETA/BNS according to dailyLietuvos Rytas reports on Friday.

"The export geography is changing and this is not onlybecause Russia or Belarus are buying less (flour)," it quoted ZilvinasPakeltis, head of exports at Malsena Plius, as saying.

"Trade with these countries has become economicallyinfeasible to us in the wake of the embargo and the depreciation of the Russianruble. Also, Russians, who are forced to save money, have started to buy localproducts, which are of lower quality but cheaper," he said.

For the second year now, Malsena Plius supplies seeds ofScandinavian varieties of oat to farmers and then purchases grain from them toproduce oat flakes.

The company exports rye and wheat flour, bran and otherproducts to Scandinavian countries, mostly to bakeries and processing plants inDenmark, Sweden and Finland.

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