Posted: 20.01.2025 12:50:00

Export prices for dairy products continue to rise at BUCE

In Q4 2024, dairy products saw an increase in prices at the Belarusian Universal Commodity Exchange, since foreign buyers’ demand rose, sb.by reports with reference to BUCE

In particular, the exchange quotation for skimmed milk powder in October-December 2024 increased by 22 percent – to 257 Russian Roubles per kilo when delivered to Russia, and by 12 percent – to $2.47 per kilo when sold to EAEU, CIS, and third countries. A slight decrease in prices was registered for butter only due to increased competition in Russia, a key market for Belarus, which significantly expanded imports of this product from India, Iran and Turkiye to curb inflationary processes. As a result, by the end of 2024, the weighted average exchange quotation for 72.5 percent fat butter amounted to 731 Russian Roubles per kilo, and for 82.5 percent fat butter — 801 Russian Roubles per kilo.

“Prices at exchange auctions were formed in accordance with market conditions and in most cases exceeded the indicative values set by the working group operating at the Agriculture and Food Ministry. At the same time, up to six foreign buyers competed for some lots. As a result, domestic dairy processing enterprises could generate additional revenue even during periods of low demand," BUCE spokesman Roman Yaniv commented.

In 2024, Belarusian exporters sold over 181 thousand tonnes of dairy products through BUCE, or almost 9 times more than in 2023. Among the major buyers were the CIS countries, Georgia, China, Mongolia, the United Arab Emirates, Serbia, Singapore, and Turkiye.