The Belarusian Universal Commodity Exchange (BUCE) said in 2020, 125,000 tons of raw cow’s milk in the higher and extra categories were sold through the exchange.
The value of the milk sold was 119m BYN ($46.2m), which meant milk entered the top three most popular types of agricultural products on the stock exchange. Compared to 2019, sales of raw milk through BUCE increased ninefold in both physical and value terms, and accounted for 12% of transactions.
“Exchange trading in raw cow’s milk is one of the most successful BUCE projects,” the BUCE press service said.
“In less than two years, a transparent stock market for raw milk has been formed, with more than a hundred regular participants from all over the country. As for the economic feasibility of the exchange mechanism, in 2020 the additional revenue for dairy farmers exceeded 1.2m BYN ($470,000). At the same time, the fee for participation in the bidding is still only 10 kopecks ($0.04) per deal,” the BUCE press service said.
BUCE said further growth of the sector is expected in 2021, with the first trading sessions in January showing significant activity among buyers and sellers.