Companies from Central Asia plan to purchase large volumes of Belarusian sugar

More than 2,500 tonnes of Belarusian white sugar were sold to the countries of Central Asia during a joint pilot project of the Belarusian Universal Commodity Exchange and Belgospishcheprom Concern

The project was implemented at an initiative of Prime Minister Roman Golovchenko, and it is aimed at increasing the diversification of exports of Belarusian sugar, which is now supplied mainly to Russia. The initiative was launched at the end of August 2022 and, since then, not only a circle of buyers in priority markets has been formed, but additional revenue for domestic exporters has been generated.

As informed by the Belarusian Universal Commodity Exchange’s press service, weekly session stock trading of sugar for export was organised. “All four Belarusian sugar factories acted as sellers, and fifteen companies from Kazakhstan, Kyrgyzstan, Uzbekistan and China were accredited as buyers. Twelve transactions took place, as a result of which Kazakh and Kyrgyz participants purchased 2,560 tonnes of sugar. Moreover, due to competition, some lots were sold with a price increase of 2-3 percent. Taking into account a good harvest of sugar beet and favourable market conditions, the development of this area of exchange trading will continue, especially since foreign companies are interested in purchasing larger volumes of Belarusian sugar," the source said.

Exchange trading of sugar for export is organised at the Belarusian Universal Commodity Exchange twice a week: on Wednesdays and Fridays. Slutsk Sugar Refinery, Gorodeya Sugar Refinery, Skidel Sugar Refinery, and Zhabinka Sugar Plant act as sellers.