Russian companies, increasingly present in the transactions of the Belarus Commodity Exchange

Russian companies made, between January and February 2024, transactions worth 131.8 million dollars at the Belarusian Universal Commodity Exchange (BUCE), the amount being 6.6 times higher than that of between January and February 2023, BelTA announces.

Transactions with agricultural products were the most numerous, exceeding 60% of the total transactions with Russia, according to the statements made by the deputy director of the external economic relations department of BUCE, German Puzyrny, during an event organized by the Russian Export Center.

Presenting the capabilities of BUCE, German Puzyrny emphasized that this year, Russian companies are showing increased interest in the Belarus Commodity Exchange, and the result is a significant increase in the number and volume of transactions.

"We can say that the export to Russia, through the Belarusian Stock Exchange, registers a record dynamic", said German Puzyrny, adding: "During January-February 2023, the transactions were below 3 million dollars. This year we have already crossed the $97 million mark. Dairy products such as butter, milk powder and cheese are most in demand among Russian bidders. Among the non-food products, the most popular are lumber and aerated concrete blocks. They represented 9% and 7% respectively of the transactions to the Russian market. As for imports from Russia made through the exchange, they increased by 2.3 times - mainly due to ferrous metal products and coal, which were purchased by Belarusian industrial enterprises accredited to the Commodity Exchange.

The Belarus Universal Commodity Exchange was established in 2004. BUCE is one of the largest commodity exchanges in Eastern Europe. Its key function is to help Belarusian companies export their products and assist foreign companies to enter the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products and a wide range of industrial and consumer goods.

As of February 29, 2024, 3,703 business entities from 52 regions of the Russian Federation were accredited at BUCE, and seven companies had the status of brokers.