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20 July 2022, 15:30

Rapeseed producer from Russia's Altai makes debut at Belarusian commodity exchange

MINSK, 20 July (BelTA) – Belarusian enterprises bought oilseeds from Russia's Altai Republic for the first time via the Belarusian Universal Commodity Exchange, BUCE spokesperson Roman Yaniv told BelTA.

The manufacturing company from the Altai Republic of Russia made a debut at BUCE. The buyers were two domestic oil producing enterprises, and the total volume of purchases totaled 2,000 tonnes in the amount of Br3.2 million. Earlier there was no import of agricultural products from this region of Russia, and only small batches of amino acids (L-threonine) were exported via BUCE. It is expected that attracting a large rapeseed supplier to the commodity exchange will provide an additional source of raw materials for Belarusian processors and will contribute to the growth of trade between Belarus and Russia's Altai Republic.

"The arrival of new suppliers always has a positive effect on prices for domestic consumers, so BUCE is continuously working to attract manufacturers of the most popular types of products. Rapeseeds are in high demand among Belarusian enterprises of the fat-and-oil industry. In H1 2022, the amount of transactions in this commodity amounted to almost Br7 million, which was up by 48% year-on-year. In this regard, the Altai Republic is of particular interest, since this Russian region accounts for approximately 10% of the total production of rapeseed oilseeds in Russia, which is more than 2.7 million tonnes. Taking into account the needs of the Belarusian agricultural industry in high-quality raw materials, it is possible that oilseeds will serve as one of the main drivers of growth in the exchange trade of Belarus and the Altai Republic of Russia," the press service said.

According to BUCE, in H1 of this year 19,400 tonnes of vegetable oils and oilseeds to the tune of Br47.1 million were sold via BUCE for the domestic market. It was up by 71% in physical terms and by 35% in value terms year-on-year.

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