MINSK, 24 September (BelTA) – The sales of plant protection agents via the Belarusian Universal Commodity Exchange (BUCE) increased three times in January-August 2020, BelTA learned from BUCE spokesperson Roman Yaniv.
“In January-August, over 1,000 transactions on the sale of plant protection products to the total amount of Br29 million were made through the Belarusian Universal Commodity Exchange. This is almost three times more than for the same period last year, despite the coronavirus pandemic and seasonal decline in demand for these products,” Roman Yaniv said.
According to him, the change in the trading schedule and a significant expansion of the range of participants contributed to the sales in January-August. “The sales in plant protection agents have been held weekly since January. This has allowed to quickly meet the demand of agricultural organizations and has had a positive impact on sales dynamics. Work on attracting new participants to the exchange market continues. At the beginning of the year, there were an average of 5-7 buyers and 9-11 sellers participating in trading sessions. Today these numbers reach 60 suppliers and about 40 buyers. In other words, the level of competition is high," said the spokesperson.
For many enterprises of the agro-industrial complex the crucial factor for transfer of purchases to the BUCE trading platform was the possibility to save working capital. “The OTC market can not offer such conditions. Therefore, interest in trading has recently increased both from the public and private companies, which had not considered the exchange as a tool for procurement before,” said Roman Yaniv.
The Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. The BUCE is one of the largest merchant exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.