The Mongolian Agricultural Commodity Exchange will organize its first cashmere forward exchange on December 19.
This will enable herders to set the purchase price for their cashmere up to three months prior to production. Herders will also be able to negotiate with buyers to set prices in advance of purchase.
Ten companies will take part in forward exchange contracts with suppliers. The Agricultural Commodity Exchange (ACE) traded tier I cashmere for 2.3 billion MNT on November 24.
The ACE has been conducting trading since 2013, with the exchange's average daily trade standing at 1.8 billion MNT. The number of herders selling their wool and cashmere through the ACE increased by 40 percent within one year. The ACE has organized 155 trades with a collective value of 453 billion MNT in 2017.
The Mongolian Agricultural Commodity Exchange will organize its first cashmere forward exchange on December 19.
This will enable herders to set the purchase price for their cashmere up to three months prior to production. Herders will also be able to negotiate with buyers to set prices in advance of purchase.
Ten companies will take part in forward exchange contracts with suppliers. The Agricultural Commodity Exchange (ACE) traded tier I cashmere for 2.3 billion MNT on November 24.
The ACE has been conducting trading since 2013, with the exchange's average daily trade standing at 1.8 billion MNT. The number of herders selling their wool and cashmere through the ACE increased by 40 percent within one year. The ACE has organized 155 trades with a collective value of 453 billion MNT in 2017.