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10 January 2024, 16:00

Belarusian agricultural producers double grain purchases on commodity exchange in 2023

MINSK, 10 January (BelTA) - Last year Belarusian agricultural industry purchased more than 437,000 tonnes of grain for a total of Br208 million, which was twice more than in 2022 by volume and 1.7 times more by value, BelTA has learned from the Belarusian Universal Commodity Exchange (BUCE) press service. 
 
The most popular products were fodder and food-grade wheat, corn and malt barley. They accounted for 77% of the total amount of grain crops transactions. Both Belarusian companies and also Russian suppliers acted as sellers of these crops on the exchange platform. 
 
"Belarusian grain dominated the structure of deals, while the imports from Russia held just over 40%. Grain traders from eight regions of Russia regularly engaged in bidding, while in 2022 there were half as many of them. For example, Belarusian agricultural enterprises bought fodder wheat and malt barley in Bryansk Oblast and Ryazan Oblast, corn and food-grade wheat - in Belgorod Oblast and Krasnodar Territory. As a result, the exchange sales of Russian grain increased six times - from 32,600 tonnes to 194,400 tonnes," the BUCE press service reported. 

In 2023 the grain price dynamics on stock exchanges was negative primarily due to significant increase in competition between major exporting countries amid an increase in supply on the global market. 
 
"In particular, the price for wheat decreased by 31% to $133 per tonne by the end of the year, while the price for fodder corn stood at $125 per tonne, which was 34% less than in January 2023," the press service highlighted. 
 
Belarusian Universal Commodity Exchange holds exchange trading in grain for the domestic market twice a week. Wheat, rye, barley, corn, oats, triticale, millet, peas, lentils and grain mixes are sold during trading sessions.

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