The Mongolian Agricultural Commodity Exchange forecasted that the cashmere price would reach MNT 100,000 per kg this year. Currently, the price is fluctuating between MNT 90,000-105,000 per kg depending on the quality of the yarn.

Mongolia has over 20 million goats – six times fewer than China, yet, the country supplies about 40 percent of the world’s raw cashmere. Mongolian cashmere is considered to have the best quality worldwide; approximately 85 percent of domestically produced cashmere is exported after primary processing.

Mongolian cashmere is  prized by some of the world’s priciest luxury fashion brands.  The country hopes to boost its trading profits by opening up a new online cashmere platform for global buying via China’s Bohai Commodity Exchange (BOCE). The Mongolian Commodity Exchange (MCE) said the platform should begin trading in mid-April. This will be good news for buyers and their representatives, who up to now have had to be physically present in Ulaanbaatar to buy cashmere from the MCE, Mongolia’s only permitted cashmere trader.