Business news

Almost 4m m3 of timber sold at BUCE’s year-end trading session

Photo courtesy of the BUCE

MINSK, 23 November (BelTA) – A total of 3.93 million cubic meters of timber of the 2021 harvest worth over Br500 million was sold at the year-end trading session at the Belarusian Universal Commodity Exchange (BUCE), BUCE Press Secretary Roman Yaniv told BelTA.

“The sales went up by 14% in physical terms over 2019. This way, the current trading session was the biggest one in the history of the BUCE. Taking part were about 900 bidders, almost twice as many as in 2019. Thanks to an increased demand for timber, organizations of various forms of ownership bought 95% of the total supply of timber available at the session. Private woodworking companies accounted for 74% of the total sales,” Roman Yaniv said.

Woodworking companies that did not manage to satisfy their demand for industrial wood at the yearly trading session, are invited to take part in the quarterly trading session scheduled for 3-4 December.

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

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