Belarusian flax fiber sold for export for the first time through BUTB

November 19, MINSK . The first successful trades in flax products for EXPORT were held at the Belarusian Universal Commodity Exchange: during the trading session, a Turkish textile company purchased two lots of cottonized flax fiber for a total of 35.3 tons, the exchange press service told BELTA.

The seller was one of the leading enterprises of the domestic flax industry. The last time flax fiber was traded on the foreign market was in 2005 at BUCE, but due to the lack of interest from foreign buyers, no deals were concluded.

At present, flax fiber is not included in the list of commodity items required for sale through BUCE, as defined by law. The exchange mechanism is planned to expand the export capabilities of Belarusian flax processors and ensure more efficient pricing of their products.

"The first trading session for the sale of flax fiber for export demonstrated the demand for Belarusian products and the willingness of foreign importers to work through the exchange," the press service of the commodity exchange emphasized. - In preparation for the first trades, potential buyers from seven countries were accredited, including CHINA , India and the United Arab Emirates. As a result, the deal was made by a Turkish trader who agreed to purchase the goods on the terms of the Belarusian seller. Further work on the development of export exchange trade in flax fiber will be carried out in two directions: expanding the pool of foreign buyers and attracting domestic flax mills to the exchange platform."

As of November 1, 102 residents of Turkey were accredited at BUCE. Over 10 months, the amount of exchange transactions they concluded amounted to $17.2 million, which is 2.5 times more than in the same period in 2023. From Belarus, sawn timber, dry MILK , SUGAR and wheat gluten were supplied to the Turkish market, and textile raw materials were imported from Turkey.