BUCE hosts first special timber trades for UK market
Nearly 5 thousand cubic meters of sawn timber to the tune of 2.5 million USD were sold to the United Kingdom at a special trading session held by the Belarusian Universal Commodity Exchange (BUCE). That was the first session to sell timber products to the UK market featuring offers with multiple delivery points. Since December 2020, BUCE has been using this mechanism when dealing with Chinese companies, which helped boost exports of Belarusian goods to China.
“The practice of selling timber products with multiple delivery points has proven highly effective in terms of increasing our exports to China. As a result, sales of Belarusian products to PLC surged fourfold to 18.9 million USD. This is why we decided to start using this mechanism to sell products to other promising markets. In the past six months, the UK, along with China, were among the fastest growing export markets for BUCE. Supplies of Belarusian sawn timber to the UK skyrocketed by 11 times to 12.2 million USD over H1 2020 and sales of wood stakes soared by 16 times to 3.7 million USD. In late April, the UK started buying the chrome-tanned “wet-blue” leather made by Belarusian tanneries. In just two months, the amount of transactions with this product exceeded 740 thousand USD and it keeps on growing,” BUCE press service reported.
As of 1 June, there were 67 companies from the UK accredited at BUCE. They primarily traded in timber and agricultural products.
