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13 February 2024, 11:07

Plans to supply Belarus’ agricultural products to Nigeria via BUCE

MINSK, 13 February (BelTA) – The possibility of using exchange trade mechanisms to supply Belarusian agricultural products to Nigeria and other West African countries was discussed at the business forum “Belarus - Nigeria: direct dialogue” organized by the National Center for Marketing, BelTA learned from the Belarusian Universal Commodity Exchange (BUCE) press service.

The participants of the forum discussed promising avenues of cooperation between the Belarusian Universal Commodity Exchange and the business community of Nigeria. Bilateral negotiations were held with companies interested in using the exchange platform.

Following the forum, a number of Nigerian business people said they would like to visit BUCE to better familiarize themselves with its work and to discuss the possibility of purchasing Belarusian rapeseed oil and milk powder. According to the BUCE press service, fat-and-oil and dairy products are among the most popular commodity items among foreign bidders, and the Nigerian market, given its capacity and purchasing power, is of significant interest to Belarusian exporters.

“Last year, rapeseed oil and milk powder accounted for 16% and 12% respectively of exports of agricultural products. The main buyers of oil were Switzerland, Estonia and Lithuania, while milk was mainly supplied to Russia, China and Poland. Accreditation of Nigerian companies at BUCE will allow domestic producers to expand their export geography without bearing any additional costs and to arrange regular supplies to this promising market. At the same time, BUCE will provide full support for transactions and oversee their execution,” BUCE said. 
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