In October 2020, companies from China purchased over US$1 million worth of sawn timber via the Belarusian Universal Commodity Exchange (BUCE), which exceeds the monthly average. BUCE analysts believe that simplification of the accreditation procedure contributed to the influx of Chinese buyers.
“Starting from October, Chinese companies have been actively participating in exchange trades. One of the reasons – changes to the accreditation procedure that made it simpler and less time-consuming. As a result, four more buyers joined BUCE in October alone, which is quite impressive bearing in mind that overall some 13 Chinese residents have become BUCE members in 2020. Such increase in the number of buyers had an immediate effect on exports sales that amounted to over US$1 million,” the BUCE press service reported.
Besides sawn timber, the list of promising commodities that could enjoy steady demand in China includes rapeseed oil, beet pulp, meat, sugar and dairy products. The number of requests submitted by Chinese businesses willing to buy these products has grown significantly of late.
