Business news

16 Nov 2020

Commodity export via BUCE up 22% in October

Photo courtesy of BUCE

MINSK, 16 November (BelTA) - In October, the Belarusian Universal Commodity Exchange (BUCE) posted a record number of export transactions in 2020 - $46.5 million. The commodity export via BUCE went up 22% year-on-year, BelTA learned from BUCE spokesman Roman Yaniv.

“Woodworking products, mainly sawn timber and wood chips, accounted for more than half of the export. The sales of sawn timber products amounted to $19.8 million and those of wood chips - $8.8 million. The three largest buyers of sawn timber were Germany, Latvia and Lithuania with transactions amounting to $3.7 million, $4.5 million and $8.6 million respectively. Wood chips were mostly bought by companies from Lithuania, Poland and Estonia,” Roman Yaniv said.

Agricultural processed products (colza oil and oilcake, beet oilcake and molasses) and milk powder enjoyed a great demand in export trading. In the first case, the amount of transactions totaled $6 million, up three times from October 2019. The amount of transactions in the second case made up $1.3 million, up 11 times year-on-year.

“The number of cement buyers increased in October as well. The amount of transactions here grew 4.3 times, up to $2.6 million. The main market was Russia,” the spokesman added.

The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. 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.



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