Business news

15 Oct 2020

Meat sales via BUCE up 34%

An archive photo

MINSK, 15 October (BelTA) – Some 1,000 transactions to sell meat raw materials for the needs of domestic processing companies have been conducted at the Belarusian Universal Commodity Exchange (BUCE) since the start of the year, BelTA learned from the press service of the BUCE.

More than half of this amount was provided by Belarusian manufacturers. Frozen and chilled cattle meat as well as by-products were in the highest demand.

Foreign suppliers from the UK, Latvia, Lithuania and Poland accounted for 47% of all transactions with meat raw materials. Foreign companies mainly bought pork and poultry.

The BUCE stressed the recently increased activity by large meat processing companies at the exchange. “Some meat processing companies increased their purchases by 50-70% year-on-year. First of all, the matter pertains to imported products. With the ongoing reduction of meat production in the main exporting countries, many foreign suppliers have significantly raised prices. However, competition at the stock exchange trading managed to partially level this price hike. Today, one of the key factors stimulating domestic processing companies to expand the use of exchange mechanism is the opportunity to save on the purchase of meat raw materials,” the BUCE said.