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BUCE to increase volume of transactions with foreign lumber

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MINSK, 13 September (BelTA) - The Belarusian Universal Commodity Exchange (BUCE) plans to increase the volume of transactions with lumber of foreign origin, BUCE press secretary Roman Yaniv told BelTA.

“As of 14 September the Belarusian Universal Commodity Exchange introduces lumber, a new commodity group in the trade of timber to the foreign market, by non-residents of Belarus. It is expected to attract additional attention of foreign buyers and increase the share of transit deals in the exchange commodity trade. Applications have already been submitted to the nearest export trading session for sale of edged coniferous and hardwood lumber from Russian participants. The goods are sold on FCA terms from the shipper's warehouse in Bryansk,” said Roman Yaniv.

Previously, lots with non-Belarusian lumber products were placed in the same register with the offers of domestic woodworkers, which created certain difficulties for potential buyers. “Creating a separate group of lumber put up for sale by non-resident companies will make them more visible and thus increase the likelihood of transit deals. The innovation is also conditioned by the considerable growth of interest to the exchange platform on part of foreign suppliers. So, if at the start of the year there were some 3-4 lots of lumber products of Russian origin, the upcoming trading session will feature at least 16 lots of the most popular assortments. In addition, there are plans to work out the possibility of holding special trading sessions, where only foreign resources will be sold,” said the spokesman.

Lumber products from Bryansk and Smolensk regions of Russia are regularly sold in the BUCE export trading system. Offers for sale from woodworkers from Voronezh Region will soon be available in the exchange trading system.

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.

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