– Our country supplies about 50% of the world’s cashew. However, they are not able to benefit from it. For example, as the head of the wool and cashmere union, what is your opinion on this?
– About 50% of the world’s cashew is supplied by Mongolia alone. However, if 80% of the cashmere is produced directly, about 9% is produced, and the remaining 11% is combed. Almost 100% of cashmere is exported to China, except for a single company that exports combed cashmere to Italy. However, the European countries that produce the most cashew products and Italy understand that China is the main raw material producer for the cashew market. There is a study about the annual consumption of cashmere products worth about 20 billion US dollars in the world market. It means that we supply the raw materials for 10 billion of the 20 billion US dollars. Even so, we are making about 240 million dollars profit from the cashew market in Mongolia. In a way, about 90% of the raw material that can occupy the world cashew market is already produced raw without any added value. That’s why in 2018, the “Cashmere” program was approved, and domestic companies started buying cashmere alongside Chinese exchanges, and the price of domestic cashmere has increased in recent years. Furthermore, a decision was made to ban the export of washed cashmere from January 1, 2023. It was decided that cashmere must be combed and exported as the next product. In Mongolia, it is forbidden to only remove cashew feces and urine….