Russian Transactions On Belarus Commodity Exchange Reaches Record Highs

The value of transactions on the Belarusian Universal Commodity Exchange (BUCE) conducted by Belarusian and Russian producers increased 3.4-fold in 2024, while it grew 20% year-on-year in January-April 2025, according to Herman Puzyrny, the deputy head of BUCE’s Foreign Economic Activity Department.

Puzyrny said that “Russia traditionally ranks first in trade volume among all countries represented on the exchange. For example, last year, the transaction volume of Russian participants increased 3.4-fold, exceeding US$1 billion. This is almost eight times higher than that of China, which ranks second in this indicator. A similar trend is observed this year. In January-April, trade with Russia grew 20% compared to the same period in 2024, reaching US$312.2 million. This year’s figure is once again significantly higher than that of China and Uzbekistan, which rank second and third, respectively.”

A total of 4,522 Russian companies are accredited on BUCE, including seven exchange brokers, he said. The number of Russian trading participants has increased by 264 since the beginning of this year.

Within the structure of exchange trade between Belarus and Russia, agricultural products dominate (with a share of 74%), followed by metallurgical goods (13%). Exports of Belarusian goods account for 83% of all transactions in value terms.

The Belarusian Universal Commodity Exchange (BUCE) is the only commodity exchange in Belarus and one of the largest spot exchanges in Eastern Europe. It is 98% owned by the government, and has 29,000 registered members from 70 countries, including 6000 foreign companies. The BUCE head office is located in Minsk with branches in all five of the country’s regional centers: Brest, Gomel, Grodno, Mogilev and Vitebsk. The BUCE also has exchange brokers in China, Estonia, Germany, Israel, Latvia, Lithuania, Russia, and Poland.