Chemical producers of Russia’s Perm Territory intend to work in Belarus via commodity exchange

Manufacturers of polymer packaging and absorbent carbon from Russia’s Perm Territory plan to register with the Belarusian Universal Commodity Exchange (BUCE), BelTA learned from the BUCE press service.

Applications for sale will be placed at trading session and in the industrial and consumer goods sections, which will cover the widest possible range of Belarusian consumers and ensure rhythmic deliveries. This agreement was reached following a visit of a delegation of Perm Territory to the Belarusian Universal Commodity Exchange.

"A wide range of polymers and related products are sold at the exchange for domestic needs. These are, in particular, polystyrene, polypropylene, polyethylene, ABS plastic, and PVC film, plastic containers, membranes, casings and much more. Against the backdrop of high demand and an increase in the number of suppliers in H1 2024, the total amount of transactions with them surged by 68%. We trade in goods made by Belarusian and foreign manufacturers, including Russian ones. Therefore, polymer products made in Perm Territory will be in demand among users of the exchange platform," said German Puzyrny, Deputy Head of Foreign Trade at BUCE.

He also suggested that Perm enterprises consider the possibility of concluding transit exchange transactions with companies from other regions of Russia or third countries. According to German Puzyrny, this mechanism is actively used by residents of the Russian Federation in order to hedge risks.

"This year, transit transactions featured building materials, furniture, textiles and electrical equipment. The amount of such contracts in H1 2024 amounted to about $2 million, and in most cases, both the seller and the buyer were Russian companies, i.e. the exchange mechanism was used as a means of minimizing risks and an additional channel for sales and purchases," German Puzyrny noted.

This year, bidders from Perm Territory regularly purchased Belarusian softwood lumber at BUCE (over 90% of the total transactions) and supplied only PTFE plates to the Belarusian market. 

The public joint-stock company (OAO) Belarusian Universal Commodity Exchange was established in 2004. The first trade sessions took place in June 2005. BUCE is one of the largest commodity exchanges in Eastern Europe. Its key function is to assist Belarusian companies with exporting their products and assist foreign companies with entering the Belarusian market. The commodity exchange facilitates trade in metals, timber, agricultural products, and a broad choice of industrial and consumer goods.

As of 1 July 2024, 3,894 residents of the Russian Federation were accredited at BUCE, including 21 from Perm Territory.

Written by belta.by