Sustainable Use of Bio-resources of Agricultural Origin: the Basis of Bioeconomy in Latvia.

A bioeconomy is referred to as an economy of the 21st century, which replaces the 20th century economy based on fossil resources. The use of bioresources will facilitate the transition to low-carbon energy consumption, prevent climate changes, and replace the declining stocks of fossil resources. Bioresources of agricultural origin has a potential to become the central source of resources and to ensure the production of various chemicals, materials, and energy. At the same time, agricultural production has to continue meeting the demand for healthy and safe food and feed. Achieving these objectives in the European Union and also in Latvia has raised questions on the feasibility and sustainability of such an economy. The theoretical approach employed in examining the problem in the first section of the present paper reveals that by introducing a knowledge-based bioeconomy, the overall gains of the national economy will be made through two dimensions: deep processing of bioresources of agricultural origin and development of rural areas. There are all preconditions in Latvia to make all these potential gains. The second section of the paper analyses Latvia's targets regarding the security of electricity supply and the development of rural economy through fostering the construction of biogas facilities in rural regions. The key focus is placed on the flow and sustainability of bioresources of agricultural origin. [ABSTRACT FROM AUTHOR]