According to the Ministry of Food, Agriculture and Light Industry, meat and meat product exports have reached its 20-year high level in 2018 to 54.9 thousand tons.

By head of livestock, Mongolia exported meat and meat products worth more than 4.4 million heads of livestock. According to the ministry, there are potential resources to export about 180 thousand tons of meat annually, taking into account the carrying capacity of the pastures. In terms of businesses, 19 domestic companies have the right to export meat and meat products. For instance, ‘Khatansuikh Impex’ LLC has been exporting heat processed meat products to China and bone soup to Korea. Also, ‘Ochirdaginas’ LLC has been exporting canned meat products to Korea. The company announced that its new sausage and conservancy plant was launched in March, 2018. Some experts believe that the agricultural sector has the potential to become one of the key sectors of the economy of Mongolia.

Under the ‘Cashmere’ program, the Development Bank of Mongolia issued loans worth MNT 188.2 billion to 20 factories for purpose of financing their working capital. Dehairing, spinning and sewing production capacity of these factories were increased by 28-43 percent.

The government also approved Intensive livestock breeding program, and plans to spend MNT 166.3 billion. In scope of this program liquid milk import will decrease to zero, egg imports will fall 90 percent, and honey imports will reduced by 70 percent in 2019-2023.

Source: BloombergTv.mn