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13 January 2021, 13:24

Belarus' commodity exchange reports soaring milk sales in 2020

Photo courtesy of BUCE
Photo courtesy of BUCE

MINSK, 13 January (BelTA) – In 2020 the Belarusian Universal Commodity Exchange (BUCE) sold 125,000 tonnes of raw cow's milk of the high and extra grade standards to the tune of Br119 million, which represents a nine-fold increase over last year, BelTA learned from BUCE's press service.

Raw milk, oilseed meals and feed additives were the most popular agricultural products at BUCE. The sales of raw milk via BUCE surged nine times last year over 2019 in both physical and monetary terms and accounted for 12% of all transactions in agricultural products.

“Exchange trading in raw cow's milk is one of BUCE's most successful projects. It is meant to provide processing enterprises with equal access to available raw supplies. In less than two years, we set up a highly transparent exchange market for raw milk, which already has more than 100 regular participants from all over the country. Selliing via the exchange has proven economically viable. For example, additional revenues of milk manufactures exceeded Br1.2 million in 2020 alone. At the same time, the fee for participation in a trading session remains at Br0.1 per transaction,” BUCE's press service noted.

BUCE believes that selling raw milk via the exchange offers great prospects and expects this segment to grow even more this year. “The first trading sessions in January were quite robust,” the press service noted.

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