Rapeseed oil accounts for over 65% of agricultural exports via BUCE in Q1

04/16/2021

In Q1 2021, rapeseed oil became the most popular agricultural product among foreign companies trading on BUCE. It accounted for almost 65% of all export transactions with agricultural products. In Q1 2021, foreign participants of exchange trades bought 25.3 thousand tons of rapeseed oil worth 23.5 million USD. Thus, compared to Q1 2020, foreign sales skyrocketed 4.5-fold in natural terms and 5.6-fold in monetary terms.

Such a significant growth of exports was possible thanks to the influx of buyers from both – traditional and new markets. In Q1, the Baltic states and Switzerland were the main importers of the Belarusian rapeseed oil accounting for more than two-thirds of foreign sales. New promising markets include China, Poland, and Russia. As Belarusian manufacturers alone cannot satisfy the demand exhibited by these countries, BUCE is now looking for foreign rapeseed oil suppliers that would be willing to sell their products via BUCE. Some progress has already been made in this area: in January-March, the sum of the so called “transit transactions” reached 1.2 million USD and continues growing.

Exports of rapeseed oil via BUCE have been on the rise since late 2019. By the end of 2020, the sum of export transactions with rapeseed oil surged 2.4-fold: from 15.7 million USD to 38 million USD. Given the high export figures registered in Q1, the upward trend is likely to remain in place in the foreseeable future.

Print Version

Personal data processing policy

The policy with which the user agrees by submitting their contact information through the feedback form on the official website of the Belarusian Universal Commodity Exchange.

Personal data processing policy

1. Personal data processing policy (hereinafter – Policy) regulates the legal relationship between the Belarusian Universal Commodity Exchange (hereinafter – BUCE) and the User (a capable individual aged 18 and above who wants to order services or leave feedback) regarding personal data processing. Personal data means any information related directly or indirectly to a specific or identifiable individual (citizen). Personal data processing means any action (operation) or a set of actions (operations) with personal data performed using automation tools or without them. Such actions (operations) include but are not limited to: collection, receipt, recording, systematization, accumulation, storage, clarification (updating, editing), extraction, use, transfer (distribution, provision, access), depersonalization, blocking, deletion, and destruction of personal data.

2. The User agrees to this Policy by entering their e-mail address and phone number in special fields in the feedback request form available on the BUCE website and then clicking the “Submit” button. When performing these actions, the User sends BUCE their e-mail address and phone number for further communication purposes.

3. By providing their personal data, the User agrees to have these data processed (until the User decides to withdraw their consent to processing of such data) in order to provide the User with advertising and reference information as well as other purposes in accordance with clause 4 of this Policy. When processing personal data, BUCE shall act in compliance with the Law of the Republic of Belarus of November 10, 2008 No. 455-3 “On Information, Informatization and Information Protection” taking into account the provisions of the General Data Protection Regulation of the European Union of April 27, 2016, the Law Of the Republic of Belarus of May 10, 2007 No. 225-3 “On Advertising” as well as local regulatory documents.

4. If the User wishes to amend personal in cases when such data are incomplete, inaccurate or irrelevant, or wants to revoke their consent to personal data processing, the User must submit an official request to BUCE: a letter with the subject “Amend personal data” or “Stop processing personal data” to the email address uc@ecp.by. The letter must include the User’s email address and the corresponding request.

5. BUCE uses the data provided by the User for the following purposes:

5.1. further communication with the User;

5.2. advertising and awareness raising activities;

5.3. promotion of goods and services;

5.4. surveying and polling;

5.5. analyzing efficiency of advertising campaigns.

6. BUCE undertakes not to transfer the information received from the User to third parties. Disclosure of personal data to advertisers and third parties acting under a contract with BUCE in order to fulfill obligations to the User shall not be deemed a violation of this Policy.

7. Disclosure of personal data in accordance with reasonable and applicable requirements of the legislation of the Republic of Belarus shall not be deemed a violation of this Policy.

8. BUCE has the right to use the “cookies” technology. “Cookies” do not contain confidential information and are not transferred to third parties.

9. BUCE has access to information about the User's ip-address and the original link that led the User to BUCE website. This information is not used to identify the User.

10. When processing personal data, BUCE takes necessary and sufficient organizational and technical measures to protect personal data from unauthorized access as well as any other actions of illegal nature.

.