MINSK, 13 December (BelTA) - Belarusian Universal Commodity Exchange is launching weekly trading sessions in polymers and products made from them for Belarusian consumers on 5 January 2023, BelTA learned from the press service of BUCE.
Trading sessions will be held on the principle of a reverse auction - to drive the price down. Both products of domestic producers and foreign analogues will be on sale. "In the course of preparation for the trading session we have compiled a list of almost 450 potential sellers and buyers and are currently working with them," the press service said.
As a rule, BUCE holds trading sessions for goods in high demand, the consumption of which is regular and requires rhythmic deliveries. Polymers and products from them belong to this category. BUCE will trade in the most popular types, first of all, polymers in primary forms, such as polyethylene, polystyrene, polyamide and polyvinyl chloride, and also various types of polymer film and packaging materials (containers, trays, bags, casings) and other popular products.
"Thus, Belarusian industries will be able to purchase the entire range of polymers and polymer products they need within one trading session. The buyers will be able to save money by means of reducing the starting prices during the trading session. They will also not have to look for suppliers, for example, of shrink wrap film and PET bottles, since they all will be widely represented on the commodity exchange," BUCE noted.
At the initial stage, BUCE is set to hold two trading sessions per week, however, depending on the demand, the frequency of trading will be adjusted upwards or downwards. Trading in polymers and products from them will be held at BUCE's promising commodities section, the turnover of which amounted to Br103.3 million in January-November, up by 84% year-on-year.
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.