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29 October 2020, 11:15

China's transactions at BUCE increase 10 times in January-September

MINSK, 29 October (BelTA) – The amount of transactions conducted by Chinese companies at the Belarusian Universal Commodity Exchange (BUCE) went up more than ten times in January-September 2020. The commodity structure was dominated by wood billets and cut conifers, BelTA learned from the BUCE press service.

According to the BUCE, the interest in exchange trading from Chinese business was generated by both favorable price conditions and convenient logistics offered by Belarusian exporters. This year the exchange has offered different ways to buy sawmill products (multi-base lots), which allows Chinese companies to choose the most suitable goods acceptance point for them. In addition, the delivery time was significantly reduced thanks to the use of rail transport as part of China's Belt and Road initiative.

“To increase the attractiveness of the exchange platform, there are plans to introduce a separate trading session for the sale of timber products on the Chinese market. All lots, put up for these trades, will be maximally adapted for Chinese consumers. Thanks to a high concentration of buyers, the necessary level of competition will be secured,” the BUCE press service said.

The amount of transactions conducted at the BUCE by the United States increased 2.6 times, Switzerland - 2 times, Belgium - 84%, Spain - 24% and Netherlands - 17%. Lithuania remained the leader in the amount of import transactions. In January-September 2020, some 87.4 million worth of goods were sold to this market, up 3% year-on-year. The most popular among Lithuanian buyers were lumber, wood chips, rapeseed oil, casein and cement.

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