Business news

20 Apr 2021

Belarusian commodity exchange reveals top exporters in Q1 2021

An archive photo

MINSK, 20 April (BelTA) – Sellers of timber products and cement topped the ranking of exporters of the Belarusian Universal Commodity Exchange (BUCE) in Q1 2021, BelTA learned from BUCE’s Spokesman Roman Yaniv.

In Q1 2021, the top three exporters on BUCE included the Bellesexport company affiliated with the Belarusian Forestry Ministry, Belarusian Cement Company, and Vitebsk Sawmill. The total sum of export transactions equaled $78.3, up by 29% over January-March 2020. These three companies accounted for around a half of the total export on BUCE.

“Timber products accounted for 67% of the total export in Q1. In view of this, it is understandable that companies of the forestry industry were among the leading exporters. The major export commodity was sawn timber, however, taking into account the rising popularity of green energy in European countries, we expect the demand for Belarusian fuel pellets to go up as well,” the press service said.

Thanks to active participation in BUCE’s trading sessions, Belarusian Cement Company placed second in terms of export via BUCE.

“Export diversification reduces foreign trade risks, which is why we welcome the increasing share of cement in export transactions. In January-March 2021, BUCE posted an almost fivefold increase in cement export that totaled $10.2 million. Such a surge was possible thanks to Belarusian Cement Company’s interest in concluding long-term contracts to supply products in the course of a year. If the company continues applying this tactic, export of cement on BUCE might grow even more,” BUCE stressed.

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.