Business news

Belarusian Universal Commodity Exchange accredits broker in Belgium

MINSK, 11 March (BelTA) - De Backer Pallets has been assigned the status of broker at Belarusian Universal Commodity Exchange (BUCE) in Belgium. As a result BUCE’s network of brokers – non-residents has extended to nine countries, spokesman for BUCE Roman Yaniv told BelTA.

Previously BUCE has accredited brokers in Germany, Kazakhstan, Latvia, Lithuania, Poland, Russia, Turkey and Uzbekistan.

“De Backer Pallets has considerable experience of participating in exchange bids, primarily timber section. Last year alone the company conducted €2 million worth of transactions on the Belarusian market,”  Roman Yaniv said. “As a broker De Backer Pallets plans to increase purchases of timber through the stock exchange by attracting bids from customers of timber products from the countries of the European Union,” he added.

The Belgian company says that the demand for Belarusian timber products is high, therefore it expects no difficulties with finding potential buyers. The Belgian BUCE broker will be responsible for bidding, logistics and quality control.

In addition to providing brokerage services De Backer Pallets will continue to acquire BUCE pallet boards for own production needs. “After the merger with Rodanar Pallets in 2014 De Backer Pallets has become Belgium's largest supplier of pallet boards with a production volume of over 10 million units per year. The company intends to to expand into new sales markets and ramp up the production. This is one of the reasons why De Backer Pallets has decided to raise the cooperation with BUCE to a qualitatively new level,” said Roman Yaniv.

Currently BUCE has nine accredited business entities from Belgium. The bulk of their deals accounts for timber.

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