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Belarus sells first sugar batch to Moldova via commodity exchange
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MINSK, 26 June (BelTA) - The first exchange transaction for white granulated sugar to Moldova has been registered at the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE press service.
The pilot purchase amounted to 210 tonnes. The sugar was purchased by a company that is the largest sugar importer in Moldova. BUCE expects that the pilot transaction will become the starting point for regular deliveries of Belarusian sugar to Moldova, since the same algorithm has been used to launch work with Kazakhstan and Kyrgyzstan, which are the main buyers of Belarusian sugar at exchange auction today.
“Moldova’s market is promising for Belarus in terms of sugar exports. The country annually consumes over 80,000 tonnes of sugar, and the exchange platform provides direct access to manufacturing enterprises, coupled with low risks and transparent market pricing. Based on the experience of working with importers from Kazakhstan and Kyrgyzstan, which also started with trial transactions, it can be assumed that the work with Moldova will develop according to a similar scenario. After the first batch of sugar is received by the buyer, the volume of purchases will gradually increase, as well as the number of transactions. The mechanism for conducting export trades in sugar, which ensures the predictability and regularity of deliveries contributes to it as well,” the BUCE press service said.
Founded in 2004, the Belarusian Universal Commodity Exchange conducted its first trading session in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its main function is to assist Belarusian enterprises with export and foreign companies with entering the Belarusian market. BUCE sells a wide range of metal, forestry, and agricultural products, industrial and consumer goods.
In H1 2023, sugar exports through BUCE reached 10,000 tonnes in physical terms. The key sales markets are currently Kazakhstan, Kyrgyzstan and Uzbekistan.
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