Government Bodies
Flag Thursday, 11 August 2022
Minsk Clear +16°C
All news
All news
22 June 2022, 11:47

Share of BUCE transactions with non-obligatory goods exceeds 50% within six months

MINSK, 22 June (BelTA) - The share of transactions of Belarusian Universal Commodity Exchange (BUCE) with non-obligatory goods has reached 52% within the past six months, BelTA learned from the BUCE press service.

Within the past six months, the share of transactions with goods that are not included in the list of mandatory products for sale on exchange trading sessions under Decree No.714 of the Council of Ministers has reached 52%. In value terms, this is more than Br2 billion. For comparison, in 2021 this figure did not exceed 30%, which indicates a growing interest in the exchange trading, including as a tool of procurement by own resources.

“Due to the changed business conditions, many organizations are reviewing their procurement policies, seeking to find a more expeditious and low-cost alternative to traditional tenders. Procurement by own resources is governed by Decree No.229 of the Council of Ministers of 15 March 2021, but the exchange bidding is not covered by it. In this case, the timing of procurement on the exchange is much shorter, which lets complete the procedure in just a few working days. Instead of a whole package of documents, there is a need for just a contract between the customer and supplier. Therefore, it is not surprising that many business entities prefer to purchase on the exchange. Exchange mechanism is the most popular with banking institutions, construction companies, enterprises of energy complex and food industry. Recently there has been a noticeable influx of bidders from other industries, which explains the increased share of transactions with goods outside the mandatory list,” the press service said.

It is expected that further growth of business entities' activity at the exchange trade will be promoted by the import substitution platform recently launched on the BUCE basis. Within the past three weeks more than 1,900 transactions with import-substituting goods have already been made on the exchange trading platform, and the number of new orders for purchase and sale has increased from 300 to 480 per day.

Subscribe to us
Recent news from Belarus