MINSK, 3 June (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) is ready to give Russian companies direct access to the biggest producers and consumers of agricultural products in Belarus, as well as to assist them with entering the commodity exchange market of Belarus. Such a proposal was put forward at a seminar to discuss economic activities of Russian companies on the territory of Belarus that was arranged by the Trade Representation of the Russian Federation in Belarus on the sidelines of the 31st edition of the international specialized expo Belagro, BelTA learned from the press service of BUCE.
According to Aleksandr Bashliy, head of foreign trade at BUCE, all leading agricultural holdings and agricultural complexes of the country are accredited and successfully operate on the commodity exchange, which allows foreign companies to quickly purchase or sell a wide range of agricultural products.
“This year we have significantly increased trade with the Russian Federation, primarily due to exports. In January-May, the amount of transactions more than tripled to reach $27.7 million, with agricultural products accounting for more than half of the amount. In particular, Belarusian milk powder, butter, raw hides are in high demand among Russian bidders. In 2021, we started delivering rapeseed oil to Russia,” the BUCE representative said.
Aleksandr Bashliy noted that BUCE would like to cooperate with producers and suppliers of oilseed meal from Russia. “Oilseed meal is one of the most popular commodity items at exchange trading. Since the beginning of the year, Belarusian agricultural enterprises have purchased $73.5 million worth of this product, up 33% over January-May 2020. I am sure that Russian companies will be able to easily occupy a niche in this promising market,” he stressed.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.
The 31st edition of the international specialized expo Belagro is running at the exhibition center of the China-Belarus Industrial Park Great Stone on 1-5 June. The expo traditionally gathers not only Belarusian farmers, workers of the food industry and the processing industry but also their foreign colleagues and partners. Over 400 companies from 16 countries are taking part in this year's expo.
