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First batch of Belarusian sugar sold to Mongolia via BUCE

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MINSK, 24 January (BelTA) – The first transaction to sell 312 tonnes of granulated white sugar to Mongolia was registered at the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE press service.

The BUCE broker in Mongolia, United Meres Machinery, helped bring a new buyer to the commodity exchange; one of the domestic sugar refineries was the seller. Thus, the geography of sugar exports via BUCE was expanded to include one more Asian country.

In 2023 the main markets for Belarusian sugar sold via BUCE were Kazakhstan, Kyrgyzstan, Lithuania, Moldova and Uzbekistan. Simultaneously, BUCE kept working to tap into the Asian market. "Mongolia was considered one of the most promising markets given the high demand for sugar there. The buyer that struck the deal was accredited at BUCE at the beginning of the year. This is a large trading and production company interested in regular purchases of sugar, therefore, after the successful execution of the first contract, we expect an increase in the exports to Mongolia,” the BUCE press service said.

Trading sessions for Belarusian sugar are held at BUCE twice a week. In 2023, eleven foreign companies regularly took part in exchange trading and concluded transactions. As a result, 26,000 tonnes of sugar worth $16.1 million were sold abroad (up by 157% and 124%, respectively over 2022).

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