On July 23, a round table "Results of the three-year functioning of the organized wood market on licensed exchanges: results and expectations" was held in Kyiv, which was organized by the "Exchange and Electronic Platforms" Association. and GS "Association of Woodworking Enterprises of Ukraine".
The event was attended by representatives of the woodworking industry and commodity exchanges, in particular the Ukrainian Energy Exchange, which was the first in Ukraine to receive the appropriate license and permission to trade in raw materials; Ukrainian Universal Exchange; Ukrainian Resource Exchange; Ukrainian trading platform.
Also among those present were: Arsen Ilyin, a member of the NCCPFR; Valentyn Bachurny, deputy head of the State Forest Resources Agency; Yurii Bolokhovets, general director of the State Enterprise "Forests of Ukraine"; and other. The event was moderated by Oleh Padalka, director of the "Exchange and electronic platforms" association.
During the meeting, they talked about the main stages of the three-year transformation of the wood exchange market and the most important achievements of the reform of organized commodity markets. A separate block of the meeting was devoted to state regulation and supervision of commodity exchanges. Representatives of state bodies and people's deputies positively assessed the result of the reform on organized commodity markets.
"By July 2021, the timber trade was more like the Wild West than a regulated activity. At that time, we had a huge number of sites, a crazy percentage of unfulfilled contracts and incomprehensible pricing. Now we see the powerful work of the exchanges, which has brought its effect. Thanks to this, the State Enterprise "Forests of Ukraine" is one of the few state-owned enterprises that is profitable, growing and developing", – noted Bohdan Kitsak, People's Deputy of Ukraine.
During the discussion, it became clear that licensed commodity exchanges have become a solid foundation in timber trade, and therefore market participants hope that this norm will necessarily be "cemented". in the Law "On the Timber Market" which the Verkhovna Rada is currently working on.
