Business news

12 Oct 2022

Over 2,500t of Belarusian sugar sold to Central Asia via BUCE since late August

An archive photo

MINSK, 12 October (BelTA) – Over 2,500 tonnes of white sugar of Belarusian make has been sold to Central Asia countries as part of the joint project of the Belarusian Universal Commodity Exchange (BUCE) and the Belarusian state food industry concern Belgospishcheprom, the BUCE press service told BelTA.

The project was launched as a result of Prime Minister Roman Golovchenko’s visit to the commodity exchange. The main goals of the project are to improve effectiveness and diversify the export of Belarusian sugar, which is primarily sold to Russia at the moment. Since the project was launched in late August 2022, the partners have managed to not only find customers on targeted markets but also secure additional earnings for Belarusian exporters.

As part of the pilot project the Belarusian Universal Commodity Exchange has organized weekly trade sessions to export sugar. All the four Belarusian sugar refineries participated in the trade sessions as sellers. As many as 15 companies from Kazakhstan, Kyrgyzstan, Uzbekistan, and China have been accredited as buyers. A total of 12 deals were concluded, with Kazakh and Kyrgyz companies buying 2,560 tonnes of sugar as a result. Competition during the trade sessions helped raise prices by 2-3%. In this manner the Belarusian Universal Commodity Exchange demonstrated its effectiveness as an export support tool in practice. Taking into account the good harvest of sugar beet and the favorable situation on the world market the Belarusian Universal Commodity Exchange will continue exploring business opportunities. Even more so because foreign companies are interested in buying more Belarusian sugar.

The Belarusian Universal Commodity Exchange organizes sugar export trade sessions twice a week – on Wednesdays and Fridays. Sugar from Slutsk Sugar Plant, Gorodeya Sugar Refinery, Skidel Sugar Factory, and Zhabinka Sugar Plant is available for sale via the Belarusian Universal Commodity Exchange.