Ulaanbaatar
Need of More Processed Cashmere to Earn More Profit Emphasized
Economy
Ulaanbaatar,
October 16, 2024 /MONTSAME/. In 2023, Mongolia exported cashmere
and cashmere products worth USD 441.2 million, of which USD 263.6 million was
from washed cashmere. The exported washed cashmere of 5449 tons made up 74
percent of the total washed cashmere in the country.
A total of 10 thousand tons of cashmere is produced yearly
in Mongolia and if raw and washed cashmere export is banned, more processed or value-added
cashmere would be exported, making significantly higher profits, emphasized Executive
Director of Mongolian Wool and Cashmere Association Altantsetseg Duger at a scientific
conference “Mongolian Cashmere Study-2024”.
Mongolian export of knitted cashmere products amounted to 1.8 million pieces and cashmere fabric was 58.2 thousand meters last year, according to Ms. Altantsetseg. “The value of cashmere products made from cashmere of goats that pasture in wild nature is growing year by year in the global market. There is a high tendency to buy more value-added, high-quality natural products with natural colors. Moreover, as customers’ knowledge and awareness of nature protection are improving, the sales and demand for recycled cashmere products are also increasing. We have a potential to earn more than USD 1.5 billion annually, if we produce and export final cashmere products.”
There are 10 thousand employees in the cashmere processing
industry, of which 85 percent are women, particularly 75 percent are young
people aged 18 to 45 years.
The participants of the conference stated that the “White Gold”
movement, initiated by the President of Mongolia is at the starting point for
the implementation. The movement aims at establishing a favorable legal and
investment environment for the industry and encouraging quality cashmere production
and preparation systems.
Although Mongolia has a cashmere spinning capacity of 4600 tons, currently, the country processes and exports just 728 tons of yarn annually, and supplies to the renowned brands in the world.
