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08 November 2022, 17:38

Geography of Belarusian leather export via commodity exchange expanded to China

MINSK, 8 November (BelTA) – A Chinese trading company made a pilot transaction to purchase "wet-blue" leather at the Belarusian Universal Commodity Exchange (BUCE). The trial transaction was 5,200 square meters. Thus, the geography of leather sales via Belarusian exchange platform has expanded to cover eight countries, BelTA learned from BUCE's press service.

"The semi-finished product ‘wet-blue' enjoys stable demand among manufacturers of leather goods around the world. Our regular buyers are companies from Russia, Kazakhstan, the UK, Italy, Switzerland, Lithuania and Poland. In January-October of this year, transactions amounted to $6.5 million. Belarusian ‘wet-blue' leather has not yet been supplied to China. Chinese companies accredited at BUCE were mainly engaged in import of a limited list of goods: lumber, rapeseed oil and dairy products. The Belarusian leather industry was not on their radar," BUCE said.

The pilot transaction was made by one of the new resident companies from China who registered with the BUCE over the past few months. “It was their first practical experience of participating in exchange trading. The Chinese buyer was satisfied with the quality and price. Therefore, after the arrival of the first batch in China, we expect new deals for larger amounts," the press service said.

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.

As of 1 November 2022, 103 companies from China were accredited at BUCE. Chinese companies buy lumber, rapeseed oil and milk powder, and sell products from ferrous metals and oilseed meal.

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