MINSK, 10 June (BelTA) – Timber worth nearly €9 million has been sold via the Belarusian Universal Commodity Exchange (BUCE) to countries of the European Union and Asia in one trade session, BelTA has learned.
According to BUCE Press Secretary Roman Yaniv, over 72,000m3 of sawn timber and 54,000m3 of wood chips worth a total of €8.8 million was sold as a result of an export exchange trade session hosted by the Belarusian Universal Commodity Exchange on 9 June. This trade session was one of the largest ones this year in terms of the sum of the deals.
Buyers from 15 countries took part in the trade session, however, companies from Germany, Latvia, Lithuania, Poland, and Estonia bought most of the timber products on sale (about 80%).
The fact that the key target markets for selling Belarusian sawn timber and wood chips are Baltic states, Poland, and Germany is explained by the geographic proximity, well-developed logistics infrastructure, and a considerable number of companies from the region accredited with BUCE.
At the same time results of the last few trade sessions indicate that the geography of sales gradually expands. In particular, buyers from Azerbaijan have become much more prominent. Azerbaijan imports hundreds of millions of U.S. dollars worth of sawn timber every year due to the lack of domestic resources. At present Azerbaijani buyers account for about 4% of the sawn timber exported via BUCE.
Apart from that, Chinese companies have started buying Belarusian timber via BUCE this year. They used to acquire Belarusian timber primarily via Baltic intermediaries in the past. For instance, they bought 1,600m3 of timber on 9 June.
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 mercantile 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.
As many as 442 companies from Lithuania, 369 from Latvia, 331 from Poland, 154 from Estonia, 94 from Germany, 33 from Azerbaijan, and 21 from China were accredited with the Belarusian Universal Commodity Exchange as of 1 June 2020.