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Mongolia establishes Cashmere Development Fund www.news.mn
The Schneider Group noted that cashmere market has been recovering since a low point in 2014. This is of great benefit for Mongolia as one of biggest producer of cashmere. Subsequently, the Mongolian Government is focusing on cashmere exports and increasing the production workforce. Mongolia produces a third of the global supply, and cashmere makes up 40 percent of the country's non-mineral exports. The country trades MNT 700-800 billion of cashmere annually.
Mongolia plans to implement ‘Cashmere 2’ programme in 2018-2022. The four-year program is expected to increase the country's production and export of final cashmere products 5.7 times. The aim is to increase production of finished goods by 60-70 percent.
For this propose, the Cabinet has established the Cashmere Development Fund. The MNT 500 billion fund will support the cashmere industry.
Mongolia exported 5400 tonnes of washed cashmere to China in 2017. This accounted for 60 percent of total raw cashmere and 54.3 percent of revenue.
The Schneider Group is a global specialist in the processing and trading of fine wools and high value fibres. The company was set up in the early 1920's in Australia.
Published Date:2018-02-23
