Government Bodies
Flag Sunday, 9 May 2021
Minsk Broken clouds +3°C
All news
All news
07 April 2021, 16:37

Belarusian commodity exchange unveils fastest-growing export markets for sawn timber

Photo courtesy of BUCE
Photo courtesy of BUCE

MINSK, 7 April (BelTA) – The United Kingdom and China were the fastest-growing export markets for sawn timber on the Belarusian Universal Commodity Exchange (BUCE) in Q1 2021, BelTA learned from BUCE's Spokesman Roman Yaniv.

As much as 8,500 cubic meters of sawn timber worth over $2 million was sold to the UK market, which was a threefold increase in natural terms and a sixfold increase in monetary terms year-on-year. Sales to the Chinese market via BUCE also skyrocketed. In January-March 2021, Belarusian exporters sold to China 24,800 cubic meters of sawn timber worth $5.4 million, exceeding last year's figures by 1.5 and 2 times respectively.

“This surge in export was possible thanks to attracting large importers of sawn timber from the United Kingdom and China that got an opportunity to buy the necessary volume of products in one go. Another important aspect is that transactions are made directly among manufacturers and consumers, which is beneficial for both parties. In addition, BUCE holds regular trading sessions for Chinese buyers that offer sawn timber and delivery to destinations in China. If needed, BUCE will launch similar trading sessions for participants from the UK,” Roman Yaniv said.

All in all, companies form 23 countries bought sawn timber on BUCE in Q1 2021. The biggest buyers were, as usual, Lithuania, Germany, and Latvia. In January-March 2021, Belarus exported $111.8 million worth of sawn timber (lumber, wooden stakes and poles, wood chips, fuel pellets, and other products), which was up by 45% over the same period of 2020.

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.

Subscribe to us
Recent news from Belarus