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17 Aug 2020

Round timber sales via Belarusian Universal Commodity Exchange 27% up in January-July

Round timber sales via Belarusian Universal Commodity Exchange 27% up in January-July
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MINSK, 17 August (BelTA) – In January-July 2020 sales of round timber via the Belarusian Universal Commodity Exchange (BUCE) increased by 27% in comparison with the same period of last year, BelTA has learned.

In January-July 2020 as much as 7.9 million m3 of round timber to the tune of Br524 million was sold via BUCE. The sales increased by 11% in physical terms and by 27% in monetary terms. Pulp wood of coniferous species and timber without a designated use traditionally enjoyed the strongest demand among buyers. The two items accounted for over 80% of the total sales.

The interest of private woodworking companies in BUCE continues growing, with the number of such companies up by nearly one third since the beginning of the year. BUCE has taken measures to facilitate private sector access to timber trade. The number of accredited companies and the volume of their deals have increased. Today even a small sawmill can participate in annual, quarterly, or current trade in commercial wood and buy as many raw materials as it needs. “Enabling equal access to raw materials for all market players is one of the key tasks of BUCE. I believe we have accomplished the task,” First Deputy Chairman of the Board of the Belarusian Universal Commodity Exchange Andrei Novikov noted.

He also added that there are reasons to believe the volume of round timber sales may increase further. The forthcoming quarterly trade session to sell harvested wood of Q4 2020 on 3-4 September will demonstrate it.

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.

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