BUCE intends to develop exchange trade in agricultural products with Algeria

Photo BUTB April 24, MINSK . The Belarusian Universal Commodity Exchange intends to develop exchange trade in agricultural products with Algeria. BUTB press secretary Roman Yaniv told a BELTA correspondent about this.

To further expand the geography of exchange trading, BUCE plans to organize supplies of agricultural products of Belarus to the countries of North Africa. In particular, we are talking about the use of an exchange trading mechanism for the EXPORT of MEAT, dairy and fat and oil products, which are in high demand in the region. Trading these goods through the exchange platform will provide an additional sales channel for Belarusian exporting enterprises, while African importers will have the opportunity to purchase directly from domestic producers. This is the main goal of the participation of the BUCE delegation in the international food industry exhibition DJAZAGRO, which takes place on April 22-25 in Algeria. As a result of negotiations with visitors to the exchange stand, agreements have already been reached on the sale of Belarusian MILK powder and rapeseed oil to the Algerian market, which are now actively supplied to European and Asian countries.

“Dairy products and vegetable oils are among the most popular export commodity items in the agricultural sector. Milk powder alone was sold for almost $16 million in the first quarter of 2024. This is slightly less than for the entire last year. As for vegetable oils, the sales leader traditionally rapeseed oil . Moreover, despite the decline in world prices for this product at the beginning of the year, the total amount of transactions concluded by foreign buyers in January - March exceeded the same figure in 2023 by 11%,” the exchange’s press service reported.

According to BUCE, the Algerian market is promising for Belarusian exchange trading participants for two main reasons: due to high effective demand from local consumers and the possibility of accessing the markets of neighboring countries through Algeria. Therefore, within the framework of the DJAZAGRO exhibition, targeted work is being carried out to attract Algerian companies to the exchange that are ready to import agricultural products from Belarus, as well as to search for partner organizations that can assist in the development of Belarusian-Algerian exchange trade. Thus, on April 23, a meeting was held between the BUCE delegation and the leadership of the Algerian Employers Association, which expressed interest in cooperation with the exchange in informing the Algerian business community about the potential and advantages of using the exchange platform in mutual trade.