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18 May 2023, 18:10

Plans to ship more Belarusian timber, vegetable oil, meat, dairy products to China via BUCE

Photo courtesy of the Belarusian Universal Commodity Exchange
Photo courtesy of the Belarusian Universal Commodity Exchange

MINSK, 18 May (BelTA) – The Belarusian Universal Commodity Exchange (BUCE) intends to ship more Belarusian sawn timber, vegetable oils, meat and dairy products to China. The possibilities were discussed at a meeting with a delegation of China's private sector. The delegation visited the BUCE headquarters to discuss possible purchases of agricultural and woodworking products via exchange trade, the BUCE press service told BelTA.

Head of BUCE's Agricultural Products Trade Office Oksana Bogdasarova said: “Our trade platform is fully adapted to work with the Chinese market. It offers all the necessary conditions for further increase in mutual trade, including search for suppliers in Belarus, transaction services, settlements and logistics.”

In her words, a pool of constant buyers has evolved over the last year and a half. In particular, as far as agribusiness is concerned, Chinese buyers are interested in rapeseed oil, skimmed milk powder, and beef. All the leading producers of these goods are accredited with BUCE. It makes searching for contract partners so much easier. If necessary, transactions can be made in yuans, including with payment deferment. Currency exchange risks are minimized in this manner, the BUCE representative stressed.

Chief Executive of Beijing Huibaocheng Technology Company Wanghui Chen expressed interest in cooperation with the Belarusian Universal Commodity Exchange in purchases of dairy products and vegetable oils, which are broadly used in the Chinese food industry. “Initially we are ready to buy about 10,000 tonnes of rapeseed oil per month and may increase purchases in the future. Apart from that, we are interested in Belarusian milk powder but a lot will depend on the level of prices and the cost of transportation and logistics. In any case we will carefully look at the offers available on your platform and will try to participate in trade sessions,” the representative of the Chinese company assured.

The participation of Chinese companies in sawn timber trade was also mentioned during the negotiations. According to Head of BUCE's Forest Products Section Maksim Ignatenko, it is one of the most marketable groups of commodities on the exchange. “Special trade sessions for selling sawn timber products to China are particularly indicative in this regard. During such trade sessions all the lots are listed with delivery to a certain location in China – a sea port or a railway station. It increases the appeal of exchange trade as a purchase tool. For instance, 68% of the resources offered during the special trade session on 17 May were bought,” he remarked.

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