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02 December 2022, 13:06

Indian company makes first transaction at Belarusian commodity exchange

MINSK, 2 December (BelTA) - The first transaction was made by a company from India at Belarusian Universal Commodity Exchange, BUCE spokesman Roman Yaniv told BelTA

The transaction to buy 23 tonnes of Belarusian acetone cyanohydrin was made by Tosco Pharmachem, an Indian pharmaceutical company recently accredited with BUCE. It produces a wide range of chemical compounds and reagents for the pharmaceutical industry.

According to the press service, the purchase was small as the Indian company is trialing the entire chain to supply goods from Belarus using the exchange mechanism, including costs, logistics and quality control.

"The Indian side is interested in long-term cooperation with BUCE, which implies regular participation in exchange trading and bigger purchases. Due to the lack of practical experience in the Belarusian market via the exchange platform, the company decided to make a trial small transaction first in order to minimize possible risks. Tosco Pharmachem is a fairly large player in the Indian market and, in addition to acetone cyanohydrin, is ready to purchase a number of other reagents and chemicals in Belarus. Therefore, we are looking forward to the increase in domestic petrochemical exports to India," BUCE commented.

Export exchange trades in chemical and petrochemical products have been held at BUCE since October 2021. This year, Belarusian-made synthetic fibers, gasolines, oils and solvents are in particular demand among foreign buyers. The main sales markets are Russia, China, Syria, Pakistan, UAE, Turkey and Uzbekistan.

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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