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Agricultural enterprises of Russia’s Voronezh Oblast to trade on Belarusian commodity exchange

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MINSK, 14 July (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) will act as a single sales channel for agricultural enterprises of Belarus and Voronezh Oblast of Russia, BelTA learned from BUCE’s press service.

“Food products and raw materials account for almost half of the total export of Voronezh Oblast. The share of agricultural export in Belarus’ total export is also significant – around 20%. At the same time, Belarus is traditionally one of the top three trading and economic partners of Voronezh Oblast. I believe that agricultural products will act as a growth driver of exchange trade between Belarus and Voronezh Oblast,” First Deputy Chairman of BUCE’s Board Andrei Novikov said as he took part in a business forum organized by the Export Support Center of Voronezh Oblast.

We are talking about mutual trade, because both parties have something to offer, he pointed out. “Belarusian agricultural enterprises actively use BUCE to supply milk powder, cream, butter, meat, and leather goods to various regions of Russia. At the same time, Voronezh Oblast is among the leading suppliers of oilseed meals, feed additives, cereals and grains that are always in demand in the Belarusian market. Such cooperation will benefit both the parties. In view of this, BUCE could become a single sales channel for agricultural enterprises of Belarus and Voronezh Oblast. BUCE is a perfect platform for this: we have the necessary experience, infrastructure, pool of clients, and mechanisms to control the execution of transactions,” Andrei Novikov noted.

Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.

In H1 2021, the trade in agricultural products on BUCE skyrocketed by 70% and came at Br705.8 million. Belarus export soared 3.8 times and amounted to $61.7 million.

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