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Mongolia

Welcome to the price transmission page for Mongolia. This page enables you to look into the country and its crops more specifically to gain an understanding of the level of risk and also, to view its historic warning periods per commodity. Select a time range or a specific date to view the data in more detail.

Mongolia

Historic Warnings per Commodity

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Background information

The strategic location between China and Russia in combination with the abundant natural resources, such as copper, gold and coal, made Mongolia attractive for FDI and helped transforming the landlocked economy. Having been traditionally dependent on nomadic herding, Mongolia is now a net exporting country. However, a drop in FDI and volatile commodity prices hit Mongolia hard in the last years, leading to high accumulated public debt levels. Now, the diversification of the economy and the strengthening of social protection remain essential to alleviating poverty.

The Mongolian population is traditionally nomadic and has always been dependent on agriculture. Around three-quarters of the land area, which mostly consists of semi deserts or grassy steppes, is used for agriculture. Animal husbandry is an important source of income next to planting crops such as wheat, barley, vegetables, or forage crops. Since most of the agriculturally engaged Mongolians only conduct subsistence farming, not enough agricultural output is produced to meet the national cereals demand; consequently approximately a third of the cereals demand needs to be imported.

An estimated third of the population lives as nomadic herders. The majority of the remaining population is settling in the capital and only major city Ulaanbaatar. Although poverty has decreased in recent years, many people remain vulnerable to economic shocks and extreme weather patterns. Small-scale livestock herders and their families are particularly affected. Approximately one-fifth of the Mongolian population lives in poverty and is considered undernourished. In terms of the HDI (2014), Mongolia ranks in the high human development category with a value of 0.727.