Belarus Diversifies Its Dairy Portfolio
In this week’s news, discover the new initiative in Belarus aimed to diversify the domestic dairy portfolio. Learn about BUCE and how it will boost the Belarussian dairy industry. Read also about the country’s key export products, international trade numbers, and major partnerships.
Belarussian Universal Commodity Exchange (BUCE) is one of the largest in Europe and the only one in the country. Its aim is to provide support to the local manufacturers and also introduce foreign buyers into the market. BUCE can also aid at diversifying Belarussian dairy exports allowing the manufacturers to offer competitive prices and expand their buyer’s portfolio. There is a particular interest from its Southeast Asian partners in Belarussian dairy products, especially milk powders.
In the period between January and December 2020, the overall export of dairy products from Belarus amounted to 1.097 million tonnes, an increase of 7,7% from the same period in the preceding year. The largest share was owed to cheese with 274 metric tonnes in exports and bulk and packed milk catching up with 202 metric tonnes. Russia has been the key importer of Belarussian dairy products for years and remains the key player but Asian buyers are entering the trade game. For example, Philippines imports of Whey Powder from Belarus amounted to 4.475 tonnes in 2020, an increase of 111% from the previous year while Vietnamese purchases of the product reached 1700 tonnes in the same period, also with an increase of 6,25% increase from the same period in 2019.
In Skimmed Milk Powder imports from Belarus, China ranks third with 20.047 tonnes of the product acquired in 2020 and Bangladesh is sixth with 6.075 tonnes. The total export of Belarussian dairy goods is expected to reach $ 3.1 billion by 2025, and the Belarus Agricultural Ministry aims to target markets in Asia and Africa.