Business news
Indian businesses interested in expanding presence on Belarusian commodity exchange
MINSK, 23 January (BelTA) - The Belarusian Universal Commodity Exchange hosted a large Indian importer of sawn timber who reaffirmed commitment to deepening cooperation with the exchange platform. It is not only about increasing the volume of purchases of Belarusian timer but also about exploring other promising segments of the commodity market, BelTA learned from the BUCE press service.
According to Arpit Gupta, head of the Indian company Singla Timbers, closer cooperation with BUCE will contribute to the growth of trade between Belarus and India and the realization of foreign trade opportunities of both countries.
“Our company started participating in exchange trading about a year ago. We have appreciated the exchange's potential as an instrument of interaction with Belarusian enterprises as we concluded 11 deals. In this regard, we are ready to take the next step in our cooperation. All this time we have been working through a broker, and starting from 2025 we plan to trade independently. First of all, we are interested in increasing purchases of pallet boards. At present, India imports this item from Australia in the amount of 50,000-60,000 cubic meters per month. Given the current prices and the cost of logistics, I am confident that Belarusian products will be able to compete with Australian peers. In addition, we would like to engage in exports and supply Belarus with goods from India and neighboring countries. In particular, we have a great experience of cross-border trade in nuts. This product will be in high demand in the Belarusian market,” the Indian businessman is confident.
The issue of importing sulphate bleached pulp produced in Belarus through BUCE was also discussed. According to Arpit Gupta, this commodity is in demand in India, so he intends to consider the possibility of participating in the next trade session on 28 January.
As of 1 January 2025, eight Indian companies were accredited on the BUCE, six of which came to the exchange in 2024. The total amount of exchange transactions concluded by Indian resident companies last year amounted to $1.6 million. Since the beginning of the current year, Belarusian-Indian trade has approached $1 million. Export supplies of Belarusian sawn timber accounted for the entire volume of exchange sales.
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