Mongolia’s cashmere processing companies promoted for export

Mongolia’s cashmere processing companies are promoted for export. The government of Mongolia resolved to allocate 50 million USD loan to domestic cashmere processing factories in order to enhance the export of cashmere products. With the loan provided, the local cashmere processing industries would be able to process about 1,700 tons of raw cashmere in addition to 3,000 tons of annual reserve cashmere.

Thus, about 870 tons of combed cashmere will be produced from the additionally processed cashmere for export. Past year, Mongolia produced over 7000 tons of cashmere from more than 19 million goats which was enough to meet 40% of world`s raw cashmere demand. Mongolia has 130 small, medium and large size cashmere processing enterprises.