Belarusian commodity exchange reports soaring sales of seeds, plant protection agents

In January-March 2021, sales of seeds and plant protection agents on the Belarusian Universal Commodity Exchange (BUCE) skyrocketed by 3.5 times year-on-year, BUCE's Spokesman Roman Yaniv told BelTA.

In January-March, the sum of transactions in seeds and plant protection agents on BUCE amounted to Br66.5 million, up 3.5 times over the same period of 2020. This surge in sales was attributed not only to the start of the sowing campaign, but also to the increase in the number of trading sessions participants, including many big agricultural enterprises that can spend several million rubles during a trading session.

“Last year, we sought to attract to BUCE Belarusian and foreign suppliers and manufacturers of seeds and plant protection agents. Our efforts were rewarded. The opportunity to find sellers and buy the necessary amount of products in one go appealed to big agricultural enterprises and holdings that previously had not traded via the exchange. At present, our every trading session features around 80 suppliers, which enables buyers to choose the best offer from the available ones. As a result of competition, starting prices can be reduced by up to 25%,” the press service noted.

BUCE has organized regular trading sessions to sell seeds and plant protection agents since December 2019. In 2020, the total sum of transactions in these products equaled Br53.7 million.

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.