Business news
Vegetable oils, beet pulp account for 47% of agricultural export via BUCE
An archive photo
MINSK, 7 December (BelTA) – In January-November 2020, vegetable oils and beet pulp accounted for about half of export of agricultural products via the Belarusian Universal Commodity Exchange (BUCE), BUCE Press Secretary Roman Yaniv told BelTA.
“The sum of transactions in vegetable oils, beet pulp, and molasses made by Belarusian exporters in January-November exceeded $38 million. The sales of these products almost tripled over the same period of last year. At present, they account for 47% of the total export of agricultural products via the BUCE,” Roman Yaniv said.
According to him, the strategic export markets for such products are the Baltic states and Western Europe. For example, Lithuania bought $11.8 million worth of colza oil, up by four times year-on-year. The top three buyers also included Switzerland ($9.5 million) and Estonia ($9 million). Overall, Belarusian agricultural products sold via the BUCE were shipped to seven countries.
“The favorable pricing environment and high demand among foreign buyers stimulate Belarusian manufacturers. For example, in the past, beet pulp was sold at €118 per tonne, and at the latest trading session – at €178 per tonne. Prices for colza oil and molasses also grow steadily. These are rather popular products in Europe, and we do not expect the prices to drop in the near future,” the press secretary noted.
In January-November 2020, export of agricultural products via the BUCE amounted to $80.5 million, increasing by 3% year-on-year. Apart from vegetable oils and beet pulp, Belarus’ major exports included milk powder, butter, and flour.
The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. The 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.
print version
make home page
add to bookmarks
