Minister calls for patience, asserts harvest will lower wheat prices

Mr. T.Badamjunai, Minister of Food, Agriculture, and Light Industry, has asked people to be patient for just a few weeks for wheat and flour prices to fall after the harvest. This year wheat is being grown on more than 350,000 hectares, considerably more than last year, and the harvest should be adequate to meet domestic needs. He explained the need to import flour by saying that only a special type of wheat can be made into flour and in previous years there was not enough Mongolian wheat with the required “stickiness”. However, this has been taken care of this year.

Referring to the recent wheat price increases despite the Government’s claims that supply met demand, Mr. Badamjunai said this was a seasonal and short-lived phenomenon and the new crop will see a fall in prices. However, he warned, even domestic prices will in some way have to reflect international market rates.

Source: Zuunii Medee