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01 April 2024, 15:16

Mongolia interested in Belarus’ flour, dairy products

An archive photo
An archive photo
MINSK, 1 April (BelTA) – Mongolian food industry enterprises are ready to purchase Belarusian dairy and flour products at exchange auctions, said a representative of United Meres Machinery, a company that was accredited at the Belarusian Universal Commodity Exchange (BUCE) as a stock broker in order to bring Mongolian companies to the BUCE platform, BelTA learned from the BUCE press service.

In particular, work is underway to supply Belarusian butter, skimmed milk powder and wheat flour to the Mongolian market. Agreements have already been reached with potential buyers. In addition, there are plans to increase the export of Belarusian sugar, which is currently in high demand among Mongolian producers of soft drinks. Thus, over the past month, prices for this product at BUCE increased by more than 10%, earning an extra revenue for domestic exporters.

“Two key factors have an impact on dynamics of exchange trade with Mongolia. Firstly, logistics, since our countries are pretty far away from each other, and delivery costs, taking into account rail transportation tariffs, can account for up to 50% of a product price. The second factor is an enhanced compliance control on the part of Mongolian banks. However, our partners in Belarus and Mongolia help us resolve all issues, therefore the amount of exchange transactions rose. In Q1 2024 alone, 2,700 tonnes of Belarusian sugar was sold to Mongolia. The next step is facilitating the purchase of dairy products and flour. We cooperate not only with food industry enterprises; we plan to enter the B2C segment. Negotiations are already underway with large retail chains and distributors interested in purchasing Belarusian goods,” said the representative of the BUCE broker company in Mongolia.

According to BUCE, in January-March 2024, 22,000 tonnes of granulated white sugar was sold at export exchange auctions. The main buyers were companies from Kazakhstan, Mongolia and Kyrgyzstan. For comparison, in the same period last year, the volume of transactions was estimated at 1,400 tonnes.

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