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07 September 2022, 17:25

Belarus' commodity exchange starts selling fruit, vegetables of new season

An archive photo
An archive photo

MINSK, 7 September (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) has started selling fruit and vegetables of the new season, BUCE Press Secretary Roman Yaniv told a BelTA correspondent.

The recent exchange trading in fruit and vegetables at the Belarusian Universal Commodity Exchange resulted in the first contract to sell potatoes to one of the country's biggest domestic meat processing plants.

According to the press service, the commodity exchange expects an increase in potato sales as the harvest campaign is gaining pace in the country.

“Unfortunately, last year we failed to show all the possibilities of the exchange mechanism in the sale of vegetables, since regular session trading in these products began only at the end of October, when most of agricultural products had already been sold out. Now the situation is different. The harvest campaign is gradually gaining momentum, which means that agricultural producers will have to look for buyers for their crops. Therefore, many agricultural enterprises and farms that are already accredited at the commodity exchange ramped up their bidding activity, which resulted in the first deal to sell potatoes,” said Roman Yaniv.

Trading in fruit and vegetables is BUCE's pilot project implemented with the support of the Antimonopoly Regulation and Trade Ministry. It seeks to increase the efficiency of procurement of agricultural products, ensure fair pricing and encourage robust competition in this segment of the commodity market.

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.

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