BUCE scores records
Belarussian Universal Commodity Exchange scores record turnover in 2019
Over 392 thousand transactions to the tune of 2.2 billion USD were made at BUCE trading platforms in 2019. Not only is it 4% more than in 2018 but also the highest figure ever recorded since BUCE inception.
Timber products section accounted for the majority of transactions with the total turnover of 960 million USD, or plus 14% compared to 2018. Booming round wood sales in the domestic market were the main driver of this growth. Sawn timber export to the EU contributed to the overall sales figures as well delivering 273 million USD in turnover, which is a 7% improvement over the 2018 performance. Timber harvesting services with the turnover of 68 million USD and a growth rate of 156% were the third most traded commodity group in the timber products section in 2019.
Metal products section finished the year with the total turnover of 592 million USD, or 10% less than in 2018. Low prices for ferrous metals in Russia were to blame for the downward trend. Furthermore, with the Belarusian NPP construction nearing completion the demand for electrical products dropped significantly, which had a negative effect on the wire and cable sales via BUCE.
By contrast, the agricultural products section achieved a 3% growth landing some 422 million USD in turnover. Feed additives and plant protecting agents were the most popular commodities in the domestic market, whereas butter, milk powder and rapeseed oil produced the bulk of export sales.
Industrial and consumer goods section also proved quite successful securing a solid 3% growth and 195 million USD in transactions volume.
For reference. As of 01.01.2020, a total of 22 607 companies were accredited at BUCE, including 4 530 foreign residents from 62 countries.