16 February 2024, 10:08

Hungary shows interest in exchange trade with Belarus

Photo courtesy of BUCE

MINSK, 16 February (BelTA) - Hungarian companies are ready to be accredited at the Belarusian Universal Commodity Exchange (BUCE) and participate in exchange trading as sellers and buyers of agricultural products, official representative of the Belarusian Chamber of Commerce and Industry (BelCCI)in Hungary Sandor Makai during his visit to the BUCE central office to discuss the prospects of Belarusian-Hungarian exchange trade, BelTA learned from the BUCE press service.

According to the representative of Hungary, beet molasses produced by Belarusian sugar factories is of special interest to Hungarian business. This product is in high demand in the Hungarian market. The launch of its supply through BUCE will significantly increase the exchange trade between the two countries.

“One of the goals of my visit to Belarus is to establish contacts with Belarusian producers of molasses and agree on its import to Hungary. With the help of the exchange, I expect to solve this issue as soon as possible, as exchange trading opens direct access to all Belarusian sugar industry enterprises. There is also interest in the purchase of rapeseed oil and wet-blue leather. I think we will also be able to cooperate on these commodity items. As for exports from Hungary, it may be agricultural seeds, which, as far as I know, are in great demand among Belarusian stock exchange traders. Of course, this is not a complete list of promising commodity areas, but it is quite enough for a start,” the BelCCI representative in Hungary said.

According to the BUCE, in 2023, some 87,000 tonnes of beet molasses were sold to foreign markets, which is 1.7 times up from 2022. The main buyers were companies from Latvia, Lithuania, Poland and Estonia. Imports of seed products through the exchange at the end of last year increased by 13% in monetary terms, to $22 million. Supplies were made from Germany, Denmark and France.