In response to the increase in demand, the fuel wholesaler SIA “Straujupīte”, using “Citadels“funding of EUR 1.5 million will enable farmers to purchase fuel on deferred payment.
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Such a fuel billing system allows farmers to invest working capital in machinery, seed, fertilizers and other needs during the active season, as well as to help in crisis situations, while fuel can be paid for in the autumn after the harvest.
“One third of our customers are farmers. The farmer, when sowing grain, will harvest and recover the investment only after a certain time, but the fuel is needed before the harvest. Understanding the specifics of farmers’ work, we come up with a deferred payment for up to 90 days. “In order to ensure prompt fuel delivery, we have expanded our fleet to 12 units, which allows us to provide up to 500,000 liters of deliveries per day,” says Oskars Zeiza, Development Manager at Straujupīte.
“Despite the intense competition and the uncertainties caused by Covid-19 in the transport sector, Straujupīte’s fuel sales are growing every year, ending 2020 with an increase in fuel sales of more than 30%. A large part of the company’s customers are farmers who face various challenges – changing weather conditions, fluctuating product purchase prices, deliveries on time, etc. – so a stable fuel price with post-payment option is an important support for them, “comments Mārtiņš Bočkāns, Head of Corporate Customer Service in Latvia, Citadele.
“During almost 20 years of existence, the company has gained a stable position among fuel traders and continues to develop today. We are pleased that the company stimulates the Latvian economy by entering the 100 largest Latvian taxpayers. It is important for us to support local companies, and Straujupite is 100% Latvian. company, “adds Bočkāns.
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“Straujupīte” is a family business, and its main activity is fuel wholesale, retail, as well as excise product warehousing and transportation services. The company sells about 50 million liters of fuel a year. It is planned to open several more gas stations this year. The company is also considering linking the franchise to its network of service stations.
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