Business news

14 Sep 2020

Timber products account for over 40% of trade via BUCE in January-August

An archive photo

MINSK, 14 September (BelTA) – In January-August 2020, the sum of transactions in timber products at the Belarusian Universal Commodity Exchange (BUCE) rose by 4% to Br1.2 billion, which accounts for 40% of the total trade via the exchange, BUCE Press Secretary Roman Yaniv told BelTA.

“The main growth driver was the sales of round timber on the domestic market. The sum of transactions in these products soared by 20% to Br559 million over January-August 2019. Moreover, sales of logging services went up by 6% (to Br109 million), mainly thanks to active participation of small and medium-sized enterprises,” Roman Yaniv said.

Sawn wood accounted for the lion’s share of export supplies, with the sum of transactions at Br404 million. The exchange quotations for sawn wood set during the BUCE trading were higher than in the over-the-counter market, which earned Belarusian manufacturer an additional Br11 million.

The Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. The 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.

Since the start of the year, the BUCE has seen around 270,000 transactions worth more than Br3 billion. The number of accredited participants has reached 24,260.