Mongolian cashmere prices fell by approximately %

According to the Mongolian “Government News” newspaper, “www.gogo.mn” and other media sources, the current price of Mongolian cashmere is 50,000 yuan/kg (about 127 yuan/kg), which is higher than the previous price. It fell by about 50% over the same period last year. In the past three years, Mongolia’s cashmere exports have grown steadily, and the Mongolian government has regarded cashmere processing industry and cashmere product exports as key development areas. During the epidemic, in order to stabilize the price of cashmere and protect the income of herdsmen, the Mongolian government issued preferential loans of NT$300 billion (approximately 760 million yuan) with an annual interest of 3% to cashmere processing and operating enterprises. Companies that obtain this preferential loan are required to pay no less than Purchase cashmere at the designated starting price of 100,000/kg and produce cashmere products. The prices of the agreements signed between the Mongolian Ministry of Food, Agriculture, Animal Husbandry and Light Industry and the Agricultural Exchange are as follows: the pre-sale price of cashmere in East Gobi, Sukhbaatar and Kent provinces is 105,000/kg; Hohanggai and Kusugar provinces are 90,000/kg; Gobi Province is priced at 80,000/kg; Khovd, Ubussu, and Bayin-Ulagai Provinces are priced at 75,000/kg; prices in the other 12 provinces start at 85,000/kg.

Mongolia produces about 10,000 tons of cashmere annually, and the government provides 300 billion yuan in preferential loans to enterprises to purchase 3,000 tons of cashmere. Regarding the sale of the remaining 7,000 tons of cashmere, Battel, executive manager of the Mongolian Agricultural Exchange, said that he plans to cooperate with China’s Tianjin Bohai Commodity Exchange and strive to sell it at no lower than the starting price.

AAAFGNHIYO

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