Estonian pellet producer Graanul Invest reported sales of EUR 590mn in 2022, which was up 30% from 2021, ERR reports. The group’s annual net profit rose by 28% to EUR 111mn. The group produced 2.3 million tonnes of pellets in 2022, which was down from 2.5 million tonnes a year earlier. Due to raw material shortages and price rises, pellet production decreased at all plants in the Baltic States. The group has four plants in Estonia, six in Latvia, and one each in Lithuania and the US. Graanul Invest employed 509 people in 2022.