On Wednesday, Chairwoman of the Cabinet Secretariat of Government B.Dolgor submitted to parliament Speaker D.Demberel a draft parliamentary resolution on allocating MNT 40 billion for purchasing 100 thousand tons of wheat from the Mongolia Development Fund.

The draft was drawn up on the basis of the law on the Mongolia Development Fund in order to improve the flour supplies and prevent the price rise.
In recent years, 30 percent of demands for flour in Mongolia have been covered by domestic sources, over ten percent--by relief wheat, and 60 percent--by import products. According to preliminary balance, 200.6 thousand tons of cereal is expected to harvest this year, of which 196.5 thousand tons is wheat. Thereby, 49.1 percent of domestic needs will be satisfied. Taking into account a tendency of rising wheat prices, the Government drafted this resolution.
The purchased wheat will be sold in the second and third quarters.
D.Demberel said the draft will be submitted to related Standing committees.

 

Source: Montsame