Business news from Ukraine

The first transaction for the export of milk powder to Ukraine has been completed at the Belarusian Universal Commodity Exchange (BUCE), the press service of the BUCE has reported.
“Following the trading session, a Ukrainian company purchased from a Belarusian manufacturer a trial batch of 40 tonnes of skimmed milk powder for $108,000. Earlier, Ukrainian participants mainly purchased scrap metals, construction materials, flour and plant seeds at the BUCE, and showed no interest in domestic dairy products,” the press service said.
The first deal on the purchase of Belarusian milk powder by the Ukrainian company on the stock exchange is considered a landmark event in terms of export diversification.
“This, first of all, was facilitated by the active work of the exchange to attract new buyers from Ukraine to the auction. In particular, the company that completed the transaction is a large importer of agricultural products to the Ukrainian market. On the other hand, an important role was played by the flexible marketing policy of Belarusian dairy processors, who were able to offer their products at a competitive price. As practice shows, a trial purchase is usually followed by transactions of a much larger volume. We look forward to a similar scenario in this case,” the press service said.
They also noticed that Ukraine is in the top five countries in terms of the number of companies accredited on the exchange.
“At the same time, in the first half of the year, the number of Ukrainian participants increased by 16% and amounted to 326. Exchange trade turnover with Ukraine has also significantly increased: following the results of the six months, it reached $24.6 million, which is 58% more than in the same period in 2020,” the report says.
In general, in the first half of 2021, the export of milk powder through the BUCE increased by 4.5 times. The main buyers were residents of the Russian Federation.