Exchange trading with timber opened in the Perm region

Timbermen in the Perm region now can sell their products through exchange trading.

On 3 March 2017, timber exchange opened in Perm and the first contracts were concluded based on the results of the trading. Timber exchange trading was opened upon an initiative of FAS Exchange Committee with support of the Government of the Perm region, the Perm Chamber of Commerce and Industry and St Petersburg Commodities Exchange.

Dmitry Makhonin, Deputy Chairman of FAS Exchange Committee, Head of FAS Department for Regulating the Fuel-and-Energy Complex, said: “Launching exchange trading with Perm timber in the future will form the basis for developing exchange trading and establishing price indices, which will enable developing transparent timber market in Russia. In its turn, Perm timbermen will get an additional channel to sell their products”.

“It another commodity that we are putting the Exchange to, improve the situation on sectoral markets and in the economy in general”, pointed Chairman of FAS Exchange Committee, Deputy Head of FAS Anatoly Golomolzin. “Earlier the Exchange trading with oil products, natural gas, liquefied petroleum gases started trading on a commercial scale. Next in line are coal, fertilizers, fish, sugar, etc”.