State Enterprise Lithuanian Agricultural and Food Market Regulation Agency (or the Market Regulation Agency) was established in 1998 to administer Lithuanian agricultural and food market regulation and export promotion measures.
In its first year, the Market Regulation Agency purchased surplus of Lithuanian cereals (wheat, barely, rye), beef meat, sweet cream butter, skimmed milk powder, canned milk and beef. Purchased agricultural and food products were sold on the domestic and foreign markets. Activity of the Agency enabled significantly soften negative impact of Russian economic crisis of 1998 to Lithuanian producers of agricultural and food products.
In 2001, separate structural unit of the Agency was established to promote export of Lithuanian agricultural and food products.
Since the accession to the European Union in 2004, the scope of activity of the Market Regulation Agency has became broader. The Agency is responsible for payment authorization of European Agricultural Guarantee Fund expenditures for agricultural market intervention and aid schemes.
Since 2008, the Market Regulation Agency administers sugar quota system of Lithuania.
In export promotion, the Market Regulation Agency helps Lithuanian exporters to take part in international exhibitions, trade fairs and trade missions, hosts the specialized Internet project VIRTUAL FAIR (www.litfood-fair.com), collects, analyses and distributes information on potential markets, prepares and distributes marketing material. The Agency participates in promotion of cultural heritage, superior quality agricultural products and foodstuffs and is administrator of national food industry technology platform.