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Belarusian biotechnology corporation makes first export deal at Belarusian commodity exchange

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MINSK, 17 December (BelTA) - The Belarusian National Biotechnology Corporation (BNBC) has made the first export transaction to sell feed additives (L-lysine sulfate) via the Belarusian Universal Commodity Exchange (BUCE), BUCE spokesman Roman Yaniv told BelTA.

Previously, BNBC used the exchange platform exclusively to purchase raw materials and to sell its products domestically. The buyer of the pilot batch of L-lysine sulfate was a company from Russia.

"More than 2,700 companies from Russia are accredited on the BUCE, including large agricultural holding companies and farms that are customers of BNBC products, including such feed additives as L-lysine sulfate, which are in demand in the animal husbandry. Thus, the target audience was already present on the stock exchange, and BNBC only needed to choose the best offer. The transaction was the first experience of the corporation in exchange trading as an exporter, as earlier BNBC used the exchange mechanism only in the domestic market: to sell mixed fodder, premixes, feed grains and purchase sunflower meal and corn," Roman Yaniv noted.

In order to help BNBC promote export, BUCE is set to reach out to potential buyers not only in Russia but also in other markets of interest to the corporation to raise their awareness about the new opportunity. According to Roman Yaniv, pooling the efforts of the exchange and exporting companies provides, as a rule, a great synergistic effect.

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. 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.

In January-November 2021, agricultural exports via BUCE surged by 56% to $126 million. Rapeseed oil, meat and dairy, leather products were the most popular commodities.

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