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21 October 2020, 17:50

Sales of vegetable oils, feed additives via BUCE double since January

MINSK, 21 October (BelTA) – The sales of vegetable oils and feed additives via the Belarusian Universal Commodity Exchange (BUCE) have doubled since the beginning of 2020, BUCE spokesperson Roman Yaniv told BelTA.

“Since the beginning of the year, about 30,000 tonnes of vegetable oils and feed additives worth $24.1 million have been sold via BUCE, which is twice as much as in the same period of 2019, both in value and in natural terms. The increased demand for rapeseed oil in Europe has furled the growth in sales. With the main exporters Germany, Czechia and Belgium increasing prices, Belarusian products have become more competitive and posted a marked increase in the volume of sales via BUCE,” Roman Yaniv noted.

The Belarusian Universal Commodity Exchange registered the first deal to supply beetroot pulp to the Netherlands. "BUCE was not used before in the export of feed additives and vegetable oils to the Dutch market. The amount of the contract is $547,000. These products are now supplied to 7 countries: Latvia, Lithuania, the Netherlands, Russia, Ukraine, Switzerland and Estonia," the spokesman said.

Switzerland is the largest customer at BUCE this year with deals totaling more than $7 million. Lithuania goes second with $6.2 million. They are followed by Estonia that bought vegetable oils for $5.4 million. Sales to Switzerland have increased by 96%, to Lithuania - by 2.5 times, and to Estonia - 3.6 times.

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.

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