Business news
Batch of Belarusian timber worth $1.6m sold to China
MINSK, 26 August (BelTA) – As much as 10,200m3 of sawn timber worth $1.6 million has been sold to China during an export trade session hosted by the Belarusian Universal Commodity Exchange (BUCE). The timber will be delivered by rail to Shanghai and Chengdu, BelTA learned from BUCE Press Secretary Roman Yaniv.
In his words, the interest of Chinese customers in BUCE increased noticeably in the last few months. The volume of sales during the first trade sessions to sell timber and deliver it to China was small. However, Chinese companies have been more active since June. In turn, Belarusian companies see the rising demand for sawn timber and start offering larger batches for sale. The combination of these factors has had a positive impact on export dynamics. Since the beginning of the year 44,200m3 of sawn timber worth over $7 million has been sold in the direction of China.
The press service of the Forestry Ministry mentioned a considerable increase in shipments to China in comparison with January-July 2019. Sawn timber was initially delivered to China by sea. In 2020 Bellesexport Company helped organize the shipment of timber by rail. This method of shipment is four times faster than delivery by sea.
According to the Forestry Ministry, four container trains loaded with Belarusian sawn timber have been dispatched to China this year. There are plans to send three more trains to China in August and September.
The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.
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