Business news

Belarusian commodity exchange reports record-high sales in seeds, crop protection agents

Photo courtesy of BUCE

MINSK, 16 February (BelTA) - Plant protection agents and crop seeds worth some Br12 million have been sold within one trading day at the Belarusian Universal Commodity Exchange (BUCE), BelTA has learned.

The  amount of transactions was record-breaking thanks to a big number of suppliers. The trading sessions featured over 60 sellers,  many of whom were direct producers of seeds and crop protection agents. The buyers' interest in concluding long-term contracts, which was so far untypical for these types of products, also contributed to the result.

“We did a get preparatory work to attract large domestic and foreign producers of crop seeds, pesticides and herbicides. Belarusian agricultural enterprises used the opportunity to meet their needs for these products without mediators and concluded annual contracts,” the BUCE press service said.

The Belarusian commodity exchange also emphasized a noticeable increase in the share of private business among the bidders.

“In autumn 2020, seeds and crop protection agents were purchased on the exchange mostly by state-owned enterprises. This year we see a different trend, with more private companies taking part in the exchange trade and making bigger transactions. The exchange helps them save time as a wide range of suppliers regularly takes part in bidding. Thanks to competition, there is always an opportunity to make a purchase on attractive terms,” the BUCE press service said.

Plant protection agents and seeds sold at the BUCE totaled Br53.7 million in 2020. The figures stood at Br6.1 million in January 2021.

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