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Belarusian commodity exchange posts 6% increase in turnover in January-October

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MINSK, 13 November (BelTA) - The amount of transactions made at the Belarusian Universal Commodity Exchange in January-October amounted to Br3.9 billion, which was up by 6% year-on-year, BUCE spokesman Roman Yaniv told BelTA.

"Sales of timber products accounted for 41% of total BUCE turnover, or Br1.6 billion. Timber sales increased by 9% over January-October 2019. The share of metal products made up 27% (more than Br1 billion), agricultural products - 21% (Br805 million), industrial and consumer goods - 9% (Br363 million), promising commodities - 2% (Br76 million).

Ferrous metals, round timber and oilseed meal enjoyed the greatest demand among Belarusian bidders, while timber, scrap of ferrous and non-ferrous metals and rapeseed oil – among foreign buyers. The section of promising commodities was the fastest growing, with the turnover up two times in January-October. Now this section trades cement and ballast for export and plant-protecting agents, veterinary medicines and seed seeds to the domestic market,” Roman Yaniv noted.

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.

The number of companies accredited at BUTB has increased by 2,051 since the beginning of the year and as of 1 November 1 totaled 24,658 organizations, including 4,878 non-residents of Belarus from 63 countries.

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