MINSK, 8 September (BelTA) – A total of 1.144 million cubic meters of timber worth Br123.95 million was sold at a quarterly trade session at the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE.
The sales of timber rose by 90% in physical terms and by 193% in monetary terms year-on-year. The trade session also broke this year's record, leaving behind the session in March that helped sell Br67.7 million worth of timber.
The latest quarterly trade session was especially busy in contrast to the general slump due to the pandemic, Yevgeny Malyshev, the head of the BUCE timber department, noted. “The number of participants was the highest in the whole history of the exchange – 186 vendors and more than 900 customers, who made 1,289 exchange transactions in two days. As a result, 85% of the timber on sale was sold. Thanks to high competition (some bids attracted up to 19 buyers), 69% of products (783,900 cubic meters) was sold for a higher price, with the rest sold for a lower or starting price,” he said.
Yevgeny Malyshev also pointed out the significant presence of small and medium-sized enterprises (over 350) at the trade session as they now have the same access to timber as large companies.
A total of 1.353 million cubic meters of timber was offered for sale at the quarterly trade session at the BUCE on 3-4 September. The most popular products included timber of coniferous trees and round timber without a specific purpose that accounted for 95% of all the transactions.
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 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.