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14 June 2021, 19:58

Belarusian Universal Commodity Exchange helps export butter

MINSK, 14 June (BelTA) – Quite a lot of butter has been recently sold via the Belarusian Universal Commodity Exchange (BUCE), BelTA has learned.

Butter worth over $1.5 million was sold during an export trade session organized by BUCE. In terms of the sum of the sealed deals the trade session was this year's largest trade session for this kind of merchandise. Fifteen companies from Belarus and other countries of the Eurasian Economic Union took part in the trade session. A participant from Russia made a transaction.

BUCE attributed a surge of interest in Belarusian butter to butter shortages on the world market against the backdrop of growing import to China, Russia, and the USA.

According to the BUCE press service, the market situation is quite favorable for exporters. Prices for dairy products, including butter, have been on the rise this year. For instance, butter with 82.5% fat content was traded at $4.64 per 1kg on FCA terms in March. The price rose to $5.13 in June. Both sellers and buyers are active during trade sessions, which allows maintaining high competition and maximum effectiveness of exchange trade.

In January-May 2020 the export of agricultural products via BUCE rose by 4.3 times to $52.7 million. The top exports were products made by processing oil-bearing crops, milk powder, butter, and wet blue hides.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest mercantile exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

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