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UK among major timber buyers at Belarusian commodity exchange in early 2021

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MINSK, 19 January (BelTA) – As many as 1.6 million wooden stakes worth a total of €1.1 million were sold to the United Kingdom at the first export trading session of the Belarusian Universal Commodity Exchange in 2021, BUCE spokesperson Roman Yaniv told BelTA.

Earlier, wooden stakes were delivered to the UK market in much smaller quantities and mostly with the help of intermediaries from the Baltic states. As a result, Belarusian manufacturers lost a significant share of revenues. “However, in late 2020, BUCE attracted several big foreign companies, including from the United Kingdom. The latest trading session demonstrated that exporting Belarusian products from round timber and debarked wood using the exchange offers great export prospects. For example, supplies to the UK have already exceeded last year’s figures. This is why we will continue working in this area,” Roman Yaniv said.

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.

The sum of exchange transactions in round timber and debarked wood amounted to €4.2 million in 2020. The major export markets were Germany, Latvia, Lithuania, and Poland.

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