We reported that the meat price has been stable for a while. Reserve meat protects from increase in price. However, reserve meat has not sold until now and the date is uncertain too.
12.000 tons of reserve meat was supplied for Ulaanbaatar city residents, while 1000 tons of reserve meat was supplied for Darkhan-Uul and Orkhon aimag`s residents. Reserve meat is ready for sale from January annually. However, reserve meat is still not on sale until today.
Last winter, four companies were selected for reserving the meat and established agreement with the Ministry of Food and Agriculture, National Emergency Management Agency and Specialized Inspection Authority. Reserve meat is set to cost lower than market price by MNT 1000. According to the agreement, the Government promoting MNT 1000 to per kg of reserve meat in order to protect from increase in meat price.
However, the Government cut on that promotion in 2015 and the Government had still not given the remaining subsidies worth of MNT 4.5 billion. That is the reason why reserve meat is still being in storage.
Meat reserve companies that have not received the subsidies reported that they will not put on sale reserve meat unless they have money. As a result, meat price is increasing.
Meat prices In the morning at "Khuchit Shonkhor" market:
- 1kg beef - MNT 8500 - 9500
- 1kg mutton - MNT 7500-8000
- 1kg horse meat - MNT 7000-7500
Last Saturday at "Kharkhorin" market:
- 1 kg beef - MNT 8000
- 1kg mutton - MNT 7500
- 1kg horse meat - MNT 7000
Meat reserve companies preserved the reserve meat in safe storage and the meat will not decay until July.
They will not sale the reserve meat until the Government issues money.
They reported that they will not take any responsibility if meat price increases due to reserve meat. On the other hand, they are stuck with bank loan.
They are having reserves worth of MNT 40-80 billion of meat and 60% of them is Bank of Mongolia's loan, while 40% of them is commercial bank's loan.
Meat reserve companies are ready for sale the reserve meat, if the Government issues remaining MNT 4.5 billion from last year. However, the Government has no cash to issue. Therefore, the Government decided to guarantee a loan to meat reserve companies. Both the Government and meat reserve companies have not reached to official resolution yet.
Today, representatives from the Ministry of Food and Agriculture and meat reserve companies are to hold meeting.
We reported that the meat price has been stable for a while. Reserve meat protects from increase in price. However, reserve meat has not sold until now and the date is uncertain too.
12.000 tons of reserve meat was supplied for Ulaanbaatar city residents, while 1000 tons of reserve meat was supplied for Darkhan-Uul and Orkhon aimag`s residents. Reserve meat is ready for sale from January annually. However, reserve meat is still not on sale until today.
Last winter, four companies were selected for reserving the meat and established agreement with the Ministry of Food and Agriculture, National Emergency Management Agency and Specialized Inspection Authority. Reserve meat is set to cost lower than market price by MNT 1000. According to the agreement, the Government promoting MNT 1000 to per kg of reserve meat in order to protect from increase in meat price.
However, the Government cut on that promotion in 2015 and the Government had still not given the remaining subsidies worth of MNT 4.5 billion. That is the reason why reserve meat is still being in storage.
Meat reserve companies that have not received the subsidies reported that they will not put on sale reserve meat unless they have money. As a result, meat price is increasing.
Meat prices In the morning at "Khuchit Shonkhor" market:
- 1kg beef - MNT 8500 - 9500
- 1kg mutton - MNT 7500-8000
- 1kg horse meat - MNT 7000-7500
Last Saturday at "Kharkhorin" market:
- 1 kg beef - MNT 8000
- 1kg mutton - MNT 7500
- 1kg horse meat - MNT 7000
Meat reserve companies preserved the reserve meat in safe storage and the meat will not decay until July.
They will not sale the reserve meat until the Government issues money.
They reported that they will not take any responsibility if meat price increases due to reserve meat. On the other hand, they are stuck with bank loan.
They are having reserves worth of MNT 40-80 billion of meat and 60% of them is Bank of Mongolia's loan, while 40% of them is commercial bank's loan.
Meat reserve companies are ready for sale the reserve meat, if the Government issues remaining MNT 4.5 billion from last year. However, the Government has no cash to issue. Therefore, the Government decided to guarantee a loan to meat reserve companies. Both the Government and meat reserve companies have not reached to official resolution yet.
Today, representatives from the Ministry of Food and Agriculture and meat reserve companies are to hold meeting.