Business news

Large batch of raw milk sold via Belarusian Universal Commodity Exchange

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MINSK, 23 October (BelTA) – Over 4,000 tonnes of raw cow milk worth Br3.9 million was sold as a result of the latest trade session of the Belarusian Universal Commodity Exchange (BUCE). Eight sellers and 21 buyers took part in the trade session, BelTA has learned.

As much as 92,300 tonnes of raw milk worth Br86.9 million has been sold via the Belarusian Universal Commodity Exchange since the beginning of the year. To compare, only 14,600 tonnes of raw milk worth Br13.6 million was sold last year. The increase is attributed to the growing maturity of this segment of the commodity market.

In January-September 2020 the volume of sales of agricultural products via BUCE rose by 5% to Br700 million. Sales of raw cow milk accounted for over 11% of the sum. Raw cow milk, feed supplements, and extraction cakes of oil-bearing crops were the top three sellers. The fact indicates that the exchange market of raw milk has been fully formed and develops dynamically.

The number of suppliers of raw milk keeps growing – from at most 10 in 2019 to about 20 suppliers from various parts of the country in 2020.

New players are attracted to BUCE by the ability to sell raw materials at higher prices. Besides, agricultural enterprises can participate in trade sessions at virtually no extra cost because accreditation is free and the exchange fee is only Br0.1 per deal.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

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