Mongolia Economic News


Residential Verification Required to Buy Storage Meat


During harsh winters and spring where blizzards occur, the capital city experiences a shortage of meat which jumps meat prices to the sky. To prevent this, meat is stored to ease the meat price fluctuation.
Last year, 12 thousand tonne of meat was stored to be sold through to July but it ran out before the end of the planned distribution period. Furthermore, the stored meat failed help stabilize the price.
This year, the amount of stored meat has been raised to 16 thousand tonne. 14 thousand tonne of it will be distributed to Ulaanbaatar and the rest will be distributed in Darkhan and Erdenet. The stored meat will be distributed from March 1 through to July 15.
The Ministry of Industry and Agriculture informed that the preparation of the stored meat which will be sold in just two months from now is only at a 65 percent level, but they are confident that preparations should be completed.
The previous meat storage preparations were executed by several companies but this time only the Jast Argo Company is handling all the; meat preparations, storage, retail preparations and marketing. The Ministry of Industry and Agriculture, Capital City Specialized Inspection Agency, Emergency Management Agency and the Fair Competition and Consumer Rights Regulatory Authority made a contract with Jast Argo to supervise the storage of meat.

The head of the Food, Trade and Production Policy Implementation Management Authority, Tungalaga has clarified some of the details.

-At what stage of completion is the preparation for meat storage?
-At present the preparations for meat storage are at 66.4 percent. Recently, the Mongolbank and the Ministry of Industry and Agriculture met to have the meat preparations monitored.
-Shouldn’t the preparations be completed by now? If it is at 66.4 percent now, how could 16 thousand tonne meat be stored by March?
-Many companies used to undertake the preparation of the storage meat before but this time only Jast Argo is executing it. The company is storing 16 thousand tonne meat in 12 storage facilities in the capital city and they will complete it within the scheduled time.
-Where are the storage meat supplied from?
-Around 100 thousand tonne meat is produced in the capital and all of it is sold retail. Therefore, the storage meat is supplied from the provinces, it is not produced in Ulaanbaatar.
-At what price will the storage meat be sold to the consumers this year?
-This cannot be announced just year. If it is announced to early it causes confusion among buyers. Therefore, it will be announced around the time of its distribution.
-How will the storage meat be distributed?
-The storage meat will be distributed through some 130 branches of different markets which have been involved in their distribution before.

 Contact us

The head office: trade building, Helchnii BZD,7nd khoroo,Bayanzurkh district, Ulaanbaatar, Mongolia
Window: No.36, 1st building, 1st khoroo, Chingeltei district, Ulaanbaatar, Mongolia
Tel: 976-11-317299
Fax: 976-11-317299
 Relevant ministries and agencies
Bank Of Mongolia Financial Regulatory Commision
Bank Of Mongolia Financial Regulatory Commision
Association of non-bank financial institutions Ministry of Finance, Mongolia
Association of non-bank financial institutions
Ministry of Finance, Mongolia
Bloomberg Mongolian Stock Exchange
Mongolian Stock Exchange
General Department of Taxation, Mongolia
General Department of Taxation, Mongolia