Potential of Russian agricultural exports to Mongolia by 2030 is estimated at $325 million

RUSSIA has been the largest supplier of food products to Mongolia for a long time: for example, at the end of 2023, it accounted for 23.9% of the total volume of purchases of Mongolian agricultural products (the volume of agricultural supplies amounted to about 283.4 thousand tons worth $248.6 million), analysts point out.

The main commodity items in value terms last year were confectionery, FLOUR and bakery products (10.9%), chocolate confectionery (10.5%), as well as pork and edible pig by-products (9.2%). But compared to 2022, Russia's revenue from Mongolian imports decreased by 11.1%: the main reason was a decrease in purchases of confectionery, margarine, as well as cigars and cigarettes.

On the other hand, imports of Russian wheat have recovered (Mongolia purchased 47.7 thousand tons of it for 14.3 million dollars), purchases of beet and cane SUGAR have increased (by 4.5 times in monetary terms) and wheat processing waste (by 3.3 times), and imports of pork and edible pig by-products have grown significantly (by 35.2%, to 9.3 thousand tons, in monetary terms - by 22.3%, to 22.8 million dollars).

Mongolia's agricultural exports to Russia in 2023 amounted to 2.4 thousand tons worth $4.9 million (in physical terms, its volume increased by 16.3% over the year, in monetary terms, it fell by 20%). The decrease in value terms in 2023 is primarily due to a twofold decrease in horse MEAT supplies due to the reorientation of many Mongolian producers to EXPORT to CHINA , analysts explain.

In 2023, the main commodity items in the value structure of Mongolian exports to Russia were horse meat (38.8%), vodka (14.4%) and soft drinks, except water and juices (14%): in total, Russia accounted for 0.9% of Mongolia’s total agricultural exports.