A Delhi-based manufacturer of lumber and flooring became the first Indian company to buy sawn timber through the Belarusian Universal Commodity Exchange (BUCE). The volume of the contract, concluded using the mechanism of a two-sided transaction, amounted to 3,000 cubic metres. Before that, wood products were not sold to the Indian market through exchange trading, sb.by reports with reference to the BUCE press service.

“India is certainly an attractive export destination for Belarusian wood processing companies. This South Asian country annually imports about 30 million cubic metres of timber from abroad. Coniferous wood species, common in Belarus, are especially in demand, which opens up a wide range of opportunities for the supply of domestic saw timber products to the Indian market. To conclude the first deal with an Indian importer, a targeted mechanism was used, which implies a simplified accreditation procedure on the stock exchange and a ‘symbolic’ exchange fee rate of Br1 from the buyer,” said the BUCE spokesperson Roman Yaniv.

According to the results of ten months of 2024, over 2 million cubic metres of sawn timber were sold at export exchange trades – twice as much as in the same period a year earlier. Targeted transactions accounted for 42 percent of total sales. Residents of China, Azerbaijan, Russia, Uzbekistan and Singapore were the largest buyers of Belarusian sawn timber products at the BUCE.

Source: sb.by