MINSK, 18 June (BelTA) – The sales of round timber via the Belarusian Universal Commodity Exchange (BUCE) in January-May 2020 grew by 23% to total Br362 million year-on-year, BelTA learned from BUCE Press Secretary Roman Yaniv.
“In January-May, the Belarusian Universal Commodity Exchange registered more than 168,000 transactions worth Br1.9 billion. Forest products accounted for almost 40%, or Br775 million of this, placing first in terms of sales via the exchange,” Roman Yaniv. “The main growth driver was sales of round timber in the domestic market. Since the beginning of the year, transactions in these products totaled Br362 million, which was up by 23% over January-May 2019. In physical terms, the sales increased by 8% to 5.5 million cubic meters,” he added.
The positive dynamics has been possible thanks to the growing number of participants, BUCE First Deputy Chairman of the Board Andrei Novikov noted.
“Since the beginning of the year, the BUCE registered 1,500 new companies, so the total number of participants at the BUCE comes at 24,000 from 64 countries. Most of them received a digital signature and got accreditation via the internet. Foreign companies actively take advantage of this opportunity, especially those from the EU member states that introduced strict quarantine measures and restricted travel in the wake of the COVID-19 pandemic. According to our data, waiving the fee for the digital signature and issuing it online prompted more companies from the Baltic states, Poland, and Germany to join the BUCE. We see a similar tendency with companies from other countries,” Andrei Novikov stressed.
The Belarusian Universal Commodity Exchange was set up in 2004. It conducted its first auctions in June 2005. The BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with exporting products and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.