Mongolia holds national conference on securing domestic food supply

ULAN BATOR. KAZINFORM - Mongolia on Friday held a national conference on fully securing domestic food supply as people's purchasing power has been eroded by soaring prices, Kazinform cites Xinhua.

The event, co-organized by the Office of the President of Mongolia and the Ministry of Food, Agriculture and Light Industry, aims to listen to opinions of entrepreneurs in the sectors of food and agriculture and reflect them in future policy-making, according to organizers.

«Over the past two years, food prices have risen sharply, and inflation in Mongolia has exceeded 16 percent, which has had a strong impact on people's livelihoods and the country's economy,» Mongolian President Ukhnaa Khurelsukh said during the opening ceremony of the conference.

«In view of this, we must pay attention to issues of food supply and security,» he added.

According to a United Nations report, about 20 percent of Mongolia's population has no access to nutrient-rich food.

Currently, the agricultural sector contributes some 10 percent of Mongolia's annual gross domestic product (GDP). Agriculture is mostly dependent on nomadic animal husbandry.

However, extreme weather conditions, such as air temperature fluctuations, long harsh winters, drought and low rainfall in summer, have impeded the development of agricultural and livestock sectors in Mongolia.