Business news

24 Nov 2022

BUCE to hold pilot sales of fuel pellets to Turkey

An archive photo

MINSK, 24 November (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) is planning to hold pilot sales of fuel pellets to the Turkish market in December, BelTA learned from the BUCE press service.

More than 20 Turkish companies expressed their interest in buying Belarusian biofuel. The relevant negotiations were held as part of the BUCE’s participation in MUSIAD EXPO in Istanbul.

According to the BUCE press service, domestic pellet plants are ready to bid more than 13,000 tonnes of pellets on FCA (Free Carrier) shipping terms. But, most likely, this is not the final figure, and with the sales approaching, this volume can be revised upward. We are also working on the accreditation of potential Turkish buyers on the exchange. The first training seminar for Turkish companies has already taken place.

“The clear logistics and significant capacity of the Turkish market make it one of the most promising export destinations for Belarusian fuel products. In addition to Turkish companies, which already buy timber at the exchange, we plan to attract to our pellet export trading visitors of the BUCE stand at MUSIAD EXPO. A stockbroker accredited by us in Turkey is also involved in forming a pool of buyers. As for trading algorithm, it will be a classical English price-raising auction, which will allow domestic producers to obtain additional export revenues,” the BUCE press service.

As of 1 November 2022, 27 residents of Turkey, including one stockbroker, were accredited to the BUTCE. Products of woodworking and scrap ferrous metals are mainly sold to the Turkish market via the Belarusian exchange. Exchange transactions on imports of goods to Belarus involving Turkish companies in the current year were not conducted.