In Q1 2021, Great Britain and China became the fastest-growing markets for timber sold on the Belarusian Universal Commodities Exchange. During this period, British companies purchased 8,500 cubic metres of sawn timber to the tune of US$2 million. Thus, export sales increased three-fold in kind and six-fold in monetary terms. The Chinese market also exhibited high growth rates. In January to March 2021, Belarusian exporters sold 24,800 cubic metres of sawn timber worth US$5.4 million, which is 1.5 times more than last year in kind and two times more in monetary terms.
“The advent of large importers from the UK and China was among the most important factors that helped boost exports of sawn timber. This is not surprising as BUCE’s trading platform enabled the British and Chinese buyers to get all the timber they need in one place and without mediators. In addition, we hold specialised trading sessions where timber is traded with delivery to major seaports and railway stations in China. If required, we could arrange similar trading sessions for the British buyers as well,” reported BUCE press service.
Overall, companies from 23 countries purchased timber on BUCE in Q1 2021. Lithuania, Latvia and Germany accounted for over 70% of all export sales.