Devaluation of Russian ruble very painfully affects Belarusians. It did not turn out to overcome it by switching from RUB to USD in trade. 

Russian traders refused such expensive products. It was cheaper to buy them in Latin America. Therefore it was necessary to return to RUB in trade, moreover, to reduce the prices considerably for the purpose of stock decline and receiving of revenue.

It seems that in the first half of the year there will be hardships and serious changes in foreign trade policy in Belarus. On the other hand, difficult situation may do well for the industry. At last there will be real chance for diversification.

Introduction of dollar indicatives did not help Belarusians: if at the end of 2014 there were sales at dollar prices at Belarusian Universal Commodity Exchange (BUCE), now they are stopped taking into account further weakening of ruble. Only sales of whey powder were observed on BUCE and that only after cancellation of indicative.

So, officials were compelled to return to sales at ruble prices to provide at least minimal activity. Since January 30 the export floor prices (indicatives) have been fixed at: SMP – RUB 165/kg, WMP – RUB 190/kg, 72.5% butter – RUB 210/kg, 82.5% butter – RUB 235/kg, 45% cheese – RUB 270/kg, 50% cheese – RUB 275/kg, whey powder – free trade.

Players of the market say that Belarusians are ready to reduce the prices further for decline of stocks and to not “freeze” operational means. Therefore further decrease of both market and indicative prices may occur the next weeks.

infagro.com.ua