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Economy
08 June 2021, 11:28

Italy starts buying leather at Belarus' commodity exchange

An archive photo
An archive photo

MINSK, 8 June (BelTA) – Italy has started buying Belarusian leather products at the Belarusian Universal Commodity Exchange (BUCE), BUCE Press Secretary Roman Yaniv told BelTA.

“The Belarusian Universal Commodity Exchange has registered the first transaction to sell Belarusian leather products to Italy. At the recent trading session, an Italian company has purchased a trial batch of semi-finished wet blue leather to the amount of $35,000. The total amount of transactions made by foreign buyers approximated $500,000. The supplies of wet blue leather to Italy and other European countries are expected to grow, since the demand for these products significantly exceeds the supply,” Roman Yaniv said.

Since the end of April, hides and semi-finished wet blue leather are traded for export at the exchange every week. As the press secretary noted, foreign participants in trading sessions show a great interest in the lots on display. Currently, the main markets for these products are the UK and Russia, however the geography of sales is gradually expanding. “For example, quite recently Polish and Lithuanian companies have struck the first deals to buy wet blue, and at the recent trading session an Italian company has signed a contract with a Belarusian tannery. We hope that this pilot deal will become a starting point for long-term cooperation,” he added.

Since the beginning of the year, leather products worth $2.1 million have been exported through BUCE.

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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