Ulaanbaatar /MONTSAME/. On June 15, representatives from the public-private sector discussed about the Sustainable Food Systems in Mongolia at the State Palace in Ulaanbaatar. Representatives of major private companies working in the food sector gathered to discuss about the challenges and solutions in the food and agricultural value chains, exports, public-private partnerships, sectoral policies and potential policy changes for the improvement of the sector.

The dialogue, held under two main themes, including ‘Value added chains and market’ and ‘Market expansion, new market opportunities, was co-organized by the Prime Minister's Office, National Development Agency, Mongolian National Chamber of Commerce, and the Food and Agriculture Organization of the United Nations as part of the national food systems dialogues on ‘Mongolia's Sustainable Food System’.

The main purpose of the dialogue is to come up with solutions and propose of short, medium and long term policy recommendations to support the private sector development and investment opportunities in the food and agriculture sectors.

A national dialogue on Mongolia’s sustainable food system will be organized on June 22 and 24, 2021 with the aim of identifying appropriate food systems in Mongolia and ways to achieve sustainable food systems.

Ulaanbaatar /MONTSAME/ National producer Monpellets LLC is manufacturing 100 percent organic fertilizer pellets from sheep wool and exporting it to European markets besides supplying the product domestically. The company’s director B.Tsogbadrakh said, “We carried out a feasibility study into making fertilizer from sheep wool with the European Union and the German Government. The quality fertilizer was created as a result of 10 years of work” He spent a great amount of time on research and experiments and finally built the factory in Mongolia after it was confirmed in Germany that the fertilizer has high nitrogen and is of good quality.

The company opened its factory in the fall of 2018 and has been exporting its product to Germany since last year. It has also started working with local herders, farmers and businesses.

The company is planning to export the chemical-free organic fertilizer, made by processing wool into pellets without using water, to Turkey. Requests for product samples have also been made from France, Britain, and other European countries. The product is the first organic product to be listed by the Research Institute of Organic Agriculture, headquartered in Switzerland, from Mongolia.

Another local producer Eco Wool LLC is exporting an insulation material made from sheep wool to Japan. The company produces a high quality insulation material using sheep wool, some properties of which makes it suitable for insulating buildings. The company received MNT 6.4 billion funding from the Development Bank of Mongolia as part of the SME promotion project. Thanks to that, Mongolians are now domestically producing a high-performance insulation material domestically and selling it abroad. The insulation material called Khaan Noos is in high demand on the Japanese market. Mongolian sheep Fleece has hollow hair textures which separate heat very well. The product is also durable and fire and insect resistant.

Ulaanbaatar /MONTSAME/. In the first 5 months of 2021, Mongolia traded with 131 countries from all over the world, and the total trade turnover reached USD 5.9 billion, of which USD 3.3 billion were exports and USD 2.6 billion were imports. The total foreign trade turnover increased by USD 1.9 billion (48.2%), where exports increased by USD 1.3 billion (65.7%) and imports increased by USD 609.2 million (30.6%) compared to the same period of previous year. In May 2021, exports reached USD 827.3 million, increased by USD 331.0 million (66.7%) and imports reached USD 640.4 million, increased by USD 202.8 million (46.4%) compared to the previous month.

The foreign trade balance was in surplus of USD 722.4 million in the first 5 months of 2021, increased by USD 708.5 million from previous year and compared with surplus of USD 13.9 million in the first 5 months of 2020.

Trade with China reached USD 4.0 billion in the first 5 months of 2021, which is 68.2% of the total trade turnover.

Bituminous coal and copper concentrates accounted for 29.0% and 33.4% of total exports to China, respectively, gold accounted for 99.0% and 76.9% of total export to Switzerland and Republic of Korea.

In the first 5 months of 2021, USD 1.3 billion increase in exports from the previous year was resulted from USD 211.8 million increase in Iron ores and concentrates, USD 386.7 million increase in copper concentrates exports and USD 428.7 million increase in coal exports.

In May 2021, USD 331.0 million increase in exports was mainly due to coal exports volume reached 1.4 million tonnes and increased by 685.3 thousand tonnes from 710.6 thousand tonnes in April 2021.

In the first 5 months of 2021, 40.2% of the total imports was from China, 25.8% was from Russia, 6.6% was from Japan, 4.0% was from Republic of Korea and 4.0% was from Germany, which are accounting for 80.6% of the total imports.

In the first 5 months of 2021, 49.0% of the total imports from Russia was petroleum products, 68.5% of the total imports from Japan was cars, and 5.1% of the total imports from China was electricity, 15.6% was trucks and 79.3% was imports of other products.

The USD 609.2 million increase in imports from the previous year was mainly due to USD 40.7 million increase in wheat, USD 121.3 million increase in trucks, USD 38.7 million increase in diesel and USD 29.1 million increase in cars.

Exports of mineral products, food products, and vegetable origin products made up 87.7 percent of the total export. On the other hand, 64.6 percent of the total imports was mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.

Source: National Statistics Office of Mongolia

Ulaanbaatar /MONTSAME/. At the end of May 2021, the total amount of outstanding loan to enterprises and individuals amounted to MNT 18.3 trillion, increased by MNT 580.1 billion (3.3%) from the previous month, and increased by MNT 1.1 trillion (6.2%) from the same period of the previous year. In the total outstanding loans, MNT 9.2 trillion (50.2%) was individual loans.

The standard loans reached MNT 14.9 trillion at the end of May 2021, increased by MNT 526.5 billion (3.7%) from the previous month, and increased by MNT 856.9 billion (6.1%) from the same period of the previous year. The performing loans made up of 81.7% of total loans, decreased by 0.1 percentage point from the same period of the previous year.

At the end of May 2021, the principals in arrears amounted to MNT 1.3 trillion, increased by MNT 23.6 billion (1.8%) from the previous month and increased by MNT 164.0 billion (14.3%) from the same period of the previous year. The principals in arrears made up of 7.2% of the total loans, increased by 0.5 percentage points from the same period of the previous year.

At the end of May 2021, the non-performing loans in the banking system amounted to MNT 2.0 trillion, increased by MNT 30.0 billion (1.5%) from the previous month and increased by MNT 51.8 billion (2.6%) from the same period of the previous year. The non-performing loans in the banking system corresponds 11.1% of the total loans, decreased by 0.4 percentage points from the same period of the previous year.

At the end of April 2021, the loans from commercial banks to individuals amounted to MNT 8.8 trillion, decreased by MNT 92.2 billion (1.0%) from the previous month, while it is increased by MNT 191.8 billion (2.2%) from the same period of the previous year.

In terms of types of individual loans, 46.5% was loan for business activities, 30.1% was salary loans, 8.1% was herder loans, 6.4% was deposit backed loans, 2.5% was car loans, 2.3% was credit card loans, 1.5% was pension loans, 0.6% was household consumption loans, and 2.0% was other loans.

In terms of period of MNT 8.0 trillion performing individual loans, 10.7% was loans with terms up to 1 year, 54.6% was loans with terms from 1-5 years and 34.7% was loans with terms of 5 and more years.

Source: National Statistics Office of Mongolia

Ulaanbaatar /MONTSAME/. According to the preliminary results in the first 5 months of 2021, the total revenue of the general government budget was MNT 5.9 trillion. The equilibrated revenue of the general government budget was MNT 5.3 trillion and 90.6% of the total revenue of general government budget.

On the other hand, the total expenditure and net lending was MNT 6.2 trillion in the first 5 months of 2021, resulting in deficit of MNT 866.3 billion.

In May 2021, the total equilibrated revenue and grants of general government budget was MNT 860.9 billion, decreased by MNT 956.2 billion or 52.6% compared to previous month and increased by MNT 194.2 billion or 29.1% compared to the same period of previous year.

The total expenditure and net lending were MNT 1.2 trillion, decreased by MNT 974.5 billion or 44.1% compared to previous month and decreased by MNT 365.3 billion or 22.8% compared to the same period of previous year.

In May 2021, the equilibrated balance of the general government budget was in deficit of 375.8 billion, decreased by MNT 18.4 billion or 4.7% compared to the previous month.

In the first 5 months of 2021, the general government budget revenue was comprised of 78.0% from tax revenue, 12.7% from non-tax revenue, 5.6% from the future heritage fund and 3.7% from the stabilization fund. In the first 5 months of 2021, non-tax revenue increased by 4.6 percentage points and stabilization fund revenue increased by 3.5 percentage points while tax revenue decreased by 7.8 percentage points and the future heritage fund revenue decreased by 0.3 percentage points compared to the same period of previous year.

In the first 5 months of 2021, tax revenue reached MNT 4.6 trillion, increased by MNT 1.5 trillion or 49.4% compared to the same period of previous year. This increase was mainly due to MNT 850.3 billion or 2.1 times increase in income tax revenue, MNT 317.1 billion or 43.4% increase in value added tax revenue, MNT 112.9 billion or 44.1% increase in other taxes revenue, MNT 81.6 billion or 30.7% increase in foreign activity revenue, MNT 100.2 billion or 14.6% increase in social security revenue and MNT 36.5 billion or 13.0% increase in excise tax revenue.

In May 2021, tax revenue reached MNT 777.8 billion, decreased by MNT 606.3 billion or 43.8% compared to previous month. This decrease was mainly due to MNT 676.9 billion or 82.1% decrease in income tax revenue and MNT 120.2 billion or 77.9% decrease in other taxes revenue while MNT 136.9 billion or 2.1 times increase in value added tax revenue, MNT 26.7 billion or 45.7% increase in foreign activity revenue, MNT 13.5 billion or 8.6% increase in social security revenue, MNT 8.4 billion or 17.5% increase in excise tax revenue and MNT 4.9 billion or 49.7% increase property tax.

In the total capital expenditure, 55.8% was construction expenses, 31.3% was other capital expenses, 9.3% was equipment expenses, 2.3% was capital repairs expenses and 1.3% was strategy reserve fund capital.

Source: National Statistics Office of Mongolia

Today (15 June), Mongolia reported 2386 new COVID-19 cases. The daily infection rate continues to rise; the country hit the 2,000 threshold on 12 June. The latest confirmed cases, which were all locally transmitted, brings the overall national tally to 80733; of today’s reported infections, 1685 were in Ulaanbaatar, the rest were in the provinces.

Regarding daily deaths from COVID-19, today there were 11 new fatalities; this brings the nationwide total to 380.

Children are accounting for more than 30 percent of the recent daily cases and two children aged 8 died of COVID-19 this month. Furthermore, the breakdown of children confirmed with coronavirus in a day is as follows:

118 children aged up to 4,

201 children aged 5-9,

198 children aged 10-14

101 children aged 15-17

Therefore, Mongolian health officials are allowing the Pfizer vaccine for 16-17-year-olds with the contest of their parents. The majority of 16-17 year-olds are now planning to take the general entrance exam to enter higher education or to study abroad.

Separately, Mongolia started a vaccination roll-out for pregnant women after two died of COVID-19.

Mongolia launched a national vaccination campaign in late February with a target of 60 percent coverage. So far, more than 1,891,800 people in the country have received a first dose, and over 1,642,600 have been fully vaccinated.

MINSK, 14 June (BelTA) – In 2021, the Development Bank of the Republic of Belarus (DBRB) will issue a €4.5 million loan to finance the supply of Belarus tractors and agricultural equipment made by Minsk Tractor Works (MTZ trademark) to the Ministry of Food, Agriculture and Light Industry of Mongolia, BelTA learned from the bank.

This is the third individual credit facility extended within the framework of the Belarus-Mongolia intergovernmental agreement on export loan signed in April 2019. This agreement is aimed at expanding the geography of Belarusian exports and promoting foreign economic and trade ties between Belarusian and Mongolian enterprises.

Within the framework of the agreement, in 2019-2020 the Development Bank financed the supply of firefighting, rescue, and emergency response vehicles made by the Borisov-based firefighting equipment manufacturer Pozhsnab to the National Emergency Management Agency (NEMA) of Mongolia and the suppy of vehicles made by MAZ, managing company of the BelavtoMAZ holding company, to the Center for Road Transport Development at the Road and Transport Ministry of Mongolia.

Ulaanbaatar /MONTSAME/. The Hong Kong Special Administrative Region of the People's Republic of China has announced that it will be hosting 3x3 basketball World Tour Masters with a hefty budget of USD 1.2 million. Since 3x3 basketball game was included as part of the Olympic basketball programme, starting with the Olympic Games Tokyo 2020, it has been gaining worldwide attention to become a fast-growing urban sport in a myriad of countries.

As many high-class 3x3 games are usually organized in European and American countries, Hong Kong is now set to host the FIBA 3x3 World Tour Masters for the first time with setting aside a budget of HKD 10 million or around USD 1.2 million.

When announcing the decision to host the international 3x3 basketball tournament, Kenny Wong of M1 Group, who are the local organizers, said small countries can do well in 3x3 basketball as in the case of Mongolia, who are now ranked number six in the world and second in Asia behind regional giants China. “Mongolia has spent 10 years developing 3x3 basketball and they are now in the world’s top 10,” he added.

Ulaanbaatar /MONTSAME/. At the regular press briefing of the Ministry of Health today on June 15, it was reported that 2,368 new cases were detected in Mongolia after testing 11,553 people nationwide within the past 24 hours. More specifically, 1,675 new cases were detected in the capital city, with 711 cases in rural regions.

As of today, the total number of COVID-19 confirmed cases in Mongolia now stands at 80,733. In the past 24 hours, 797 patients made recovery, bringing the total recoveries to 57,822.

Furthermore, 11 new COVID-19 related deaths have been reported, raising the country's death toll to 380. 62.3 percent of the patients undergoing treatment are in mild health condition.

(CNN Business)Elon Musk is sending bitcoin's price on another volatile ride.

The price of bitcoin is surging after Tesla (TSLA) CEO Elon Musk tweeted Sunday that the electric car company would start accepting the cryptocurrency again once at least half of it can be mined using clean energy.

"When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions," Musk tweeted Sunday afternoon.

Crypto investors to Elon Musk: Please stop tweeting!

Crypto investors to Elon Musk: Please stop tweeting!

Musk did not say anything about how he expected clean energy usage to be monitored, nor did his company immediately respond to a request from CNN Business for comment.

The cryptocurrency's price jumped to more than $39,400 by early Monday morning — about a 12.5% jump from the day before, according to Coinbase.

Tesla started accepting bitcoin transactions for its electric vehicles in late March. But by May, Musk said his company was suspending plans to accept the cryptocurrency as payment. He cited bitcoin's high environmental cost as reason for the move, after months of being bullish on it.

Bitcoin has been incredibly volatile since the beginning of the year. It started January at around $29,400, according to Coinbase, and went as high $64,899 in April. Tweets from Musk seem to have contributed to its volatility. After he announced Tesla would no longer accept bitcoin, it dropped 12%.

Musk said in the tweet Sunday that his company has sold only about 10% of its bitcoin holdings "to confirm BTC could be liquidated easily without moving market."

Other cryptocurrencies were also up early Monday. Ethereum was up more than 7.7% Monday morning, according to Coinbase, while dogecoin was up about 5%.

-- Rishi Iyengar contributed to this report.