First shipment of Belarusian sugar sold via mercantile exchange to Kazakhstan
MINSK. KAZINFORM – The first session to sell sugar for export purposes has been held by the Belarusian Universal Commodity Exchange, BelTA has learned.
Trade in sugar has been organized as part of the agreement on cooperation BUCE and the Belarusian state food industry concern Belgospishcheprom reached in February 2020. Plans are in place to use BUCE to expand the geography of export of Belarusian sugar and improve the effectiveness of sales by exploiting competition between foreign buyers. The pilot sugar trade session resulted in a sale of over 2,000 tonnes of beet sugar worth about $560,000 to Kazakhstan.
Up-to-date marketing data was used to compile the list of target markets for selling Belarusian sugar. Efforts were poured into attracting potential customers. As a result, a number of companies from Central Asia have been accredited with BUCE. They submitted applications for buying Belarusian sugar via BUCE's trade system.
Initially sugar trade sessions will be arranged upon applications of buyers and sellers. However, in the future BUCE will consider the possibility of regular sugar export trade sessions according to the approved schedule, Kazinform refers to BelTA.