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State harvest doubles last year's amount www.zgm.mn
During the Cabinet’s regular session yesterday, the Minister of Food, Agriculture and Light Industry Batzorig Batjargal presented the preliminary balance of state harvest. The Minister reports that about 497,000 hectares of land have been sowed, of which 367,000 hectares account for grains, 13,000 hectares - potate, 8,300 hectares - vegetables, 69,800 hectares - oil herbs and 38,800 hectares - fodders. Compared to the previous year, the preliminary balance of state harvest grew by 1.2-1.8 times. Mr. Batzorig highlighted that it is necessary to ensure that the harvesting is done according to technology as the maturity of crops was uneven with lots of area under blossoming stage and crops are growing partially due to high precipitation in August. The Ministry of Food, Agriculture and Light Industry plans to harvest 450,000 tons of grains, 425,000 tons of wheat, 151,000 tons of potatoes, 95,000 tons of vegetables, 30,000 tons of oil herbs and 86,000 tons of fodder. Mr. Batzorig informed that wheat potatoes can be fully supplied domestically unless weather and other complications hinder harvest.
Furthermore, the ministry plans to reserve 51,000 tons of wheat seed for the next year’s harvest, as well as supplying 330,000 tons of food-purpose wheat to manufacturers for the flour demand of the population. In addition, the ministry is now working to establish crop zones and implement the Government’s decision of May on setting up security fences along forests. Preparations of Erdenes Tavan Tolgoi IPO complete Another key topic at the Cabinet’s meeting was the IPO of Erdenes Tavan Tolgoi JSC (ETT). The working group responsible for the initial public offering announced that the preparatory works of offering the 30 percent stake of ETT at domestic and foreign stock exchanges have been finished. In accordance to the decision on IPO, the working group informed that the company’s rules must now be amended; thus, an irregular meeting of shareholders has been scheduled next month. The team also announced that their assignments, such as international auditing, legal and financial advisory services, and renewal of deposit reserves, have been completed.
Published Date:2018-08-30
