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Mongolia to become leader of global cashmere industry? www.news.mn
Earlier today (19 December), the Mongolian Agricultural Commodity Exchange for the first time, organised forward trading of cashmere. Two companies,Mongolia Cashmere World and Khatant International have signed agreements to purchase a total of 11 tonnes of the luxury fibre.
Mongolia produces a third of the global supply, and cashmere makes up 40 percent of the country's non-mineral exports. The country trades MNT 700-800 billion of cashmere annually. Mongolia processes only 15 percent of cashmere domestically; the remaining 85 percent is exported. The primary global destination of processed cashmere is Italy.
Published Date:2017-12-20
