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08 April 2024, 18:58

Timber exports via Belarusian commodity exchange up 8 times

MINSK, 8 April (BelTA) – The export of sawn timber through the Belarusian Universal Commodity Exchange (BUCE) has increased eight times in physical terms, BelTA learned from the BUCE press service.

In January-March 2024, 748,000 cubic meters of sawn timber worth $122 million were sold at the BUCE export trades. Thus, compared to the first quarter of 2023, export sales grew eight times in physical terms and seven times in monetary terms. This year, residents of 15 countries bought products of the Belarusian woodworking industry, with China, Azerbaijan, Uzbekistan and Russia being the largest markets. The share of exchange-targeted transactions in the total volume of exchange-targeted sales of sawn timber abroad reached 49%.

“Against the background of a favorable situation in key importing countries and primarily in China, about 250,000 cubic meters of sawn timber products are sold to foreign markets every month this year. This is significantly more than in 2023. In addition, In Q1, the increase in exchange export volumes was accompanied by a positive price trend. For example, compared to the previous quarter, the most demanded saw-trimmed softwood lumber increased in price by 10% on average and is currently traded in the range of $150-160 per cubic meter. However, in the near future prices may be adjusted due to changes in the Chinese market,” the press service said.

The growth of exports of timber products was promoted by the introduction of a simplified procedure for accreditation of non-resident companies planning to enter exchange targeted transactions for the purchase of sawn timber on the BUCE. In particular, the consideration terms for application accreditation were reduced from three working days to one, and the Belarusian seller has the right to submit the necessary package of documents to the exchange instead of a foreign buyer.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest commodity 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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