The three largest Montenegrin companies in the dairy production and sales sector—Lazine, Nika and Srna—generated a total revenue of €26.06 million.
In contrast, Imlek Boka, which distributes imported milk and dairy products in Montenegro, including the popular “Kravica” brand, achieved a revenue of €34.68 million. This means that Imlek Boka, which does not engage in domestic production but only in the distribution of imported goods, had 24.85% higher revenue than the combined total of the three largest Montenegrin dairies.
This is part of a broader trend highlighting the dominance of imported milk and dairy products over domestic production in this sector. Besides “Kravica,” other foreign brands such as Dukat, Zbreg, K plus and Meggle are widely available on the Montenegrin market, further worsening the position of domestic producers.
The three largest Montenegrin dairies together employ 219 workers, nearly five times more than Imlek Boka, which employs just 48 people.
In 2024, Imlek Boka reported a revenue of €34.68 million, a 4% increase from 2023. Its expenses amounted to €33.94 million, a 5% rise, while net profit dropped by 17% to €646,381. The company employed 48 workers, one more than the previous year.
Nikšić-based Nika (FML) recorded a revenue of €3.69 million in 2024, a 36% increase from the previous year. Expenses totaled €3.51 million (a 35% rise), and net profit reached €159,716, up by 62%. The company employed 36 workers, three fewer than in 2023, reflecting an 8% decrease in employment.
Nikšić’s Šljukić Co, which owns the Srna dairy, achieved a revenue of €8.19 million (a 3% increase), with expenses amounting to €6.92 million (a 2% increase). Net profit was €1.11 million, a 6% rise, and the company increased its workforce by one employee, bringing the total to 64.
Šimšić Montmilk, the largest Montenegrin company in the dairy industry and owner of the Lazine dairy in Danilovgrad, posted a revenue of €14.18 million, a 5% increase. Expenses were €13.32 million (a 3% increase), and net profit reached €750,042—45% higher than in 2023. The company maintained the same number of employees, totaling 119 workers.
Increase in yogurt imports
Milutin Đuranović, President of the Food and Agriculture Industry Committee of the Montenegrin Chamber of Commerce, revealed that in 2024, yogurt imports were 66% higher than domestic production. In other words, for every 100 liters of yogurt produced in Montenegro, 166 liters were imported.
Last year, Montenegro spent €18.6 million on yogurt imports. In response to the increasing imports of yogurt and other dairy products, the Montenegrin government formed a working group with representatives from various ministries, farmers, and dairies to address the issue.
The group’s goal is to reduce yogurt imports to stimulate domestic production and milk procurement.
Domestic yogurt production is crucial
Đuranović emphasized that domestic yogurt production is the backbone of the dairy sector in Montenegro. If domestic yogurt production were to cease, it would negatively affect the milk procurement process, which is vital for Montenegrin agriculture.
Over the past five years, yogurt imports have increased by 45%, while domestic production has declined by 8.3%. In comparison to 2023, imports grew by an additional 3%, while domestic production slightly decreased.
A success story from Serbia
A positive example for Montenegro is Serbia’s recent decision to suspend milk imports due to large stockpiles and overburdened dairies. Serbian Minister of Agriculture Dragan Glamočić explained that permits for milk, dairy products, and palm oil-based products (used as milk substitutes) would no longer be issued.
The aim of these measures is to stabilize the market and protect domestic production. A working group will be formed with representatives from major dairies, and new measures will be introduced to support the dairy sector, such as incentives for purchasing drones to improve animal feed quality, changes in legislation to regulate payment terms, and measures to limit trade margins.
Glamočić stated that the dairy sector in Serbia will develop through stronger partnerships between the Ministry, producers, and processors.
