BUCE to hold first export trading session for Chinese market on 15 December
14 December 2020
MINSK – The Belarusian Universal Commodity Exchange (BUCE) will organize the first specialized trading session to sell sawn timber to China on 15 December, BelTA learned from BUCE's press service.
Almost 20,000 cubic meters of sawn wood of coniferous trees has already been put up for sale at the export trading session. The products will be shipped on CFR (cost and freight) terms to several seaports in Mainland China.
BUCE's press service explained that the decision to hold the separate trading session has been approved by the Belarusian Forestry Ministry. It was prompted by the high demand for Belarusian sawn timber in China: in January-November, Belarus sold over $9 million worth of products of the woodworking industry to China via the exchange. In 2019, this figure was several times smaller and equaled around $200,000.
In order to attract Chinese economic entities to the exchange, BUCE has adopted a set of stimulating measures. For example, it simplified the accreditation procedure as much as possible. Now legal paperwork takes only three days. In addition, in view of Chinese customers' needs, sawn timber lots offer various shipping terms, which helps customers choose the most convenient option.
As of 1 December, there were 28 Chinese companies at BUCE, 13 of which joined the exchange in 2020.