MINSK, 28 February (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) registered the first deal to sell Indian textile raw materials on the Belarusian market, the BUCE press service told BelTA.
One of the Belarusian light industry enterprises made a pilot purchase of 20 tonnes of combed top wool produced by a major manufacturer of wool and acrylic yarn from the Indian state of Punjab. Chinese suppliers also participated in the bidding, but the Indian company offered more favorable terms to the Belarusian buyer.
"This deal is important for two reasons. First, it is a clear example of how the exchange mechanism helped a Belarusian enterprise quickly purchase the necessary raw materials directly from a foreign manufacturer. Second, it is a significant step in the development of Belarusian-Indian exchange trade, as until now lumber has been the main product of exchange trade between our countries. It has been supplied to the Indian market since November 2024. A new promising commodity position will give an additional impetus to Belarus-India exchange trade and significantly increase the number of transactions concluded by Indian traders," the BUCE press service noted.
As of 28 February 2025, BUCE accredited nine Indian companies. In January-February this year, the volume of transactions made by Indian companies already reached $1 million, compared to $1.6 million in 2024.
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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