January 11, 2012

In an effort to control soaring prices, the Mongolian government will put thousands of tonnes of reserve meat into markets, the Ministry of Food, Agriculture and Light Industry said Monday (Jan 9).

According to a plan announced by the ministry, the government will sell 12,000 tonnes of reserve meat at much lower prices in some 310 markets in the capital.

Meat prices have been rising this winter. Beef prices have reached MNT7,000 (US$4.95) a kilogramme, an increase of MNT3,000 (US$2.12) to MNT4,000 (US$2.83).

However, a kilogramme of reserve beef sells at MNT3,500 (US$2.47), half of the market price.

Food, Agriculture and Light Industry Minister T. Badamjunai told local media that Mongolia's animal husbandry sector was expected to have a good harvest this year. As a result, he said, meat prices will gradually drop to a stable level.