Lumber Starts Trading on Sofia Commodity Exchange

Lumber Starts Trading on Sofia Commodity Exchange

Bulgaria's agriculture ministry said the Sofia Commodity Exchange on Friday held its first lumber trading session.

Farming minister Miroslav Naidenov, who was on hand for the occasion, forecast lumber deals totalling 5.0 million levs ($3.4 million/2.6 million euro) on the first trading day, the ministry said in a statement.

The price for one cubic meter of wood is between 30 and 80 levs, Bulgarian National Radio (BNR) reported.

At least 50% of the lumber sawn in Bulgaria will be sold through commodity exchanges as 84% of the amount will be traded on the Sofia Commodity Exchange, 12.5% - on the Plovdiv's Commodity bourse and 3.5% - on the one, based in Ruse, local daily Dnevnik cited Miroslav Naidenov as saying.

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