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09 April 2021, 16:34

BUCE reports 8-fold increase in purchases by Belarusian meat processing plants

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MINSK, 9 April (BelTA) – In Q1 2021, purchases by Belarusian meat processing enterprises boosted on the Belarusian Universal Commodity Exchange (BUCE) soared approximately by eight times year-on-year, BelTA learned from BUCE's Spokesman Roman Yaniv.

Belarusian meat processing enterprises bought almost 5,500 tonnes of meat and semi-finished products worth a total of Br28.2 million at BUCE's trading sessions in Q1 2021. Their purchases of meat products soared by 7.8 times in natural terms and by 8.4 times in monetary terms over the same period of 2020.

Domestic manufacturers satisfied more than half of the demand from Belarusian meat processing enterprises and import transactions accounted for the rest of the demand. The number of foreign suppliers on BUCE increased. For example, this year, Belarusian companies have started buying meat in Georgia. The sum of transactions with Georgian suppliers amounted to Br1.6 million in the first quarter. Belarus also imported meat from the United Kingdom, Latvia, Lithuania, and Poland.

“Heightened activity of meat processing plants stemmed from the rising demand for food products, including sausage products and canned meat made by Belarusian manufacturers. BUCE accredited several hundreds of producers of meat and semi-finished products from Belarus, the Baltic states, Northern Europe, Asia, and other parts of the world. This enables companies to purchase the necessary amounts of products by choosing the best offers. BUCE continues attracting new suppliers to its trading sessions, which increases competition and improves the effectiveness of the exchange mechanism,” the press service noted.

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.

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