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24 June 2020, 12:44

Belarusian timber products worth €16.4m sold at BUCE trading session

MINSK, 24 June (BelTA) - More than 133,000 m3 of timber and 70,000 m3 of woodchips to the total tune of €16.4 million were sold during the export trading session at the Belarusian Universal Commodity Exchange (BUCE) on 23 June, BUCE spokesman Roman Yaniv told BelTA.

“This trading session was the largest one this year both in the amount of transactions and the volume of sales of timber products. The session featured 114 buyers from 16 countries. More than half of all lots were bought by companies from Lithuania and Estonia,” Roman Yaniv informed.

According to Evgeny Malyshev, the head of the BUCE timber department, two key factors ensured the record-high result: much higher supply when compared to previous trading sessions and smart price policy of domestic exporters. “This time, several very large timber exporters took part in the trading session, namely Bellesexport, Vitebsk Sawmill and the SWOODS Export company. This does not happen often. So the volume of products put up for sale was really impressive,” he said. “Starting prices also played an important role, which immediately attracted the attention of potential buyers and created competition. As a result, prices for some lots increased by 15-20%, which allowed Belarusian sellers to get about €200,000 in additional revenue,” he informed.

All in all, the June export of timber products through the BUCE already exceeded €30.4 million, which is twice as much as in June last year.

The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. The BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with exporting products 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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