Mongolia exports over 90 percent of processed meat products to China www.zgm.mn
China’s pork price has been surging due to Covid-2019, bird flu, and mumps. In particular, the National Bureau of Statistics of China informed that pork price boomed by 116 percent in January from the previous year. Continued shocks in demand and supply of pigs, chicken, and seafood are likely to incent Mongolian meat export. As of 2019, China made up 99 percent of beef and mutton export of Mongolia; horse meat composed 98 percent of meat export. Mongolia earned USD 106 million from these three types of meat export. This is 1.8 times more than the previous year and it is assumed that meat export increased while domestic meat supply declined. Inflation exceeded the Central Bank’s target which is driven by summer and autumn surge of meat prices in 2018 and 2019, it increased more than 30 percent from the previous year. Domestic meat reserve stores up 12.1 million tons and 8.6 million tons of entities which is enough to meet the demands of citizens for 5 months. Analysts warned that if meat export to China soars, it will create a domestic deficit and price slump.
Published Date:2020-02-13