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Lithuanian broker plans to buy more timber via Belarusian commodity exchange

Economy 05.08.2019 | 18:39
An archive photo
An archive photo

MINSK, 5 August (BelTA) – A Lithuanian broker of the Belarusian Universal Commodity Exchange (BUCE) has plans to increase the amount of timber it buys through the exchange, BUCE Spokesman Roman Yaniv told BelTA.

“A delegation of UAB Vigidas Pack (BUCE's accredited broker in Lithuania) has visited the central office of the exchange. During the visit, the parties agreed to increase the amount of sawn timber to be purchased through the exchange and to hold joint activities aimed at promoting the mechanism of exchange auctions among foreign buyers,” Roman Yaniv said.

According to Vigidas Pack Director Paulius Damasas, the company plans to expand the sales markets of Belarusian sawn products by reaching out to buyers from Northern Europe, Egypt, China and the USA.

“We have recently been receiving many applications for the purchase of Belarusian sawn timber, not only from the EU countries, but also from more distant regions, such as North Africa, Asia and the United States of America. In this regard, we are ready to purchase much more sawn timber through the exchange. We expect the demand for this product group to keep growing," the Lithuanian businessman said.

According to the exchange statistics, Lithuania is now the biggest buyer of timber products at the BUCE. In the first half of the year, Lithuanian businesses purchased more than $45 million worth of sawn timber, wood chips, technical raw materials, and fuel pellets and briquettes through the stock exchange.

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