Business news

3 Sep 2024

Vietnam joins pool of milk powder buyers at Belarusian commodity exchange

An archive photo

MINSK, 3 September (BelTA) - One more country has joined the pool of foreign buyers of milk powder at the Belarusian Universal Commodity Exchange (BUCE). Residents of the Socialist Republic of Vietnam started buying this product at the exchange trading, BelTA learned from the BUCE press service.

The first exchange transaction between a domestic milk processing enterprise and a Vietnamese trading company was concluded using the address mechanism has been in effect at BUCE since 9 August. The purchase volume amounted to 52 tonnes.

“In August, buyers from seven new countries came to the exchange to buy milk powder and other dairy products made in Belarus. Some of them have already made their first deals according to the classical, or “address” scheme. These are, for example, importers from Saudi Arabia and Vietnam. Residents of Venezuela, Malaysia, Oman and Turkmenistan are expected to make trial purchases in the near future,” the press service said.

According to BUCE, in January-August 2024, an estimated 49,600 tonnes of skimmed and whole milk powder were sold for export through exchange trading. For comparison: last year the figure stood at 8,600 tonnes.