Mongolia's Interest in Belarusian Flour and Dairy
Source: The DairyNews
Mongolia's food industry enterprises are keen to explore opportunities in purchasing Belarusian dairy and flour products through exchange auctions, as confirmed by a spokesperson from United Meres Machinery. The company, accredited at the Belarusian Universal Commodity Exchange (BUCE) as a stockbroker, is facilitating the entry of Mongolian businesses into the BUCE platform.
Key negotiations are underway to facilitate the supply of Belarusian butter, skimmed milk powder, and wheat flour to the Mongolian market. Agreements have already been forged with potential buyers, signaling a promising future for bilateral trade. Additionally, there are plans to ramp up Belarusian sugar exports, highly sought after by Mongolian soft drink producers, with recent increases in prices at BUCE yielding extra revenue for domestic exporters.
The dynamics of exchange trade with Mongolia are influenced by two primary factors: logistics and compliance controls. Despite the geographical distance between the two countries, and the associated delivery costs, collaborative efforts between Belarusian and Mongolian partners have helped overcome logistical challenges. Moreover, enhanced compliance control measures by Mongolian banks are being effectively managed through mutual cooperation.
In Q1 2024 alone, BUCE recorded significant transactions, with 2,700 tonnes of Belarusian sugar sold to Mongolia. Building on this success, efforts are now directed towards facilitating the procurement of dairy products and flour. Collaborations extend beyond food industry enterprises, with plans to venture into the business-to-consumer (B2C) segment. Negotiations are already underway with prominent retail chains and distributors expressing interest in Belarusian goods.
According to BUCE reports, the export exchange auctions witnessed substantial activity, with 22,000 tonnes of granulated white sugar sold during January-March 2024. Notably, the primary buyers hailed from Kazakhstan, Mongolia, and Kyrgyzstan, indicating a growing regional interest in Belarusian products. This surge in trade activity contrasts sharply with the figures from the same period last year when transactions amounted to a mere 1,400 tonnes.
The dynamics of exchange trade with Mongolia are influenced by two primary factors: logistics and compliance controls. Despite the geographical distance between the two countries, and the associated delivery costs, collaborative efforts between Belarusian and Mongolian partners have helped overcome logistical challenges. Moreover, enhanced compliance control measures by Mongolian banks are being effectively managed through mutual cooperation.
In Q1 2024 alone, BUCE recorded significant transactions, with 2,700 tonnes of Belarusian sugar sold to Mongolia. Building on this success, efforts are now directed towards facilitating the procurement of dairy products and flour. Collaborations extend beyond food industry enterprises, with plans to venture into the business-to-consumer (B2C) segment. Negotiations are already underway with prominent retail chains and distributors expressing interest in Belarusian goods.
According to BUCE reports, the export exchange auctions witnessed substantial activity, with 22,000 tonnes of granulated white sugar sold during January-March 2024. Notably, the primary buyers hailed from Kazakhstan, Mongolia, and Kyrgyzstan, indicating a growing regional interest in Belarusian products. This surge in trade activity contrasts sharply with the figures from the same period last year when transactions amounted to a mere 1,400 tonnes.
