Mongolia will export vegetable oil to South Korea

Published 2022년 5월 4일

Tridge summary

A rapeseed oil production plant in Mongolia's northern Selenge province has signed an export agreement with South Korean firm Dansuk Industrial Co., Ltd. The plant, capable of producing at least 30,000 tons of rapeseed oil per year, aims to start by exporting 800 tons to South Korea, with plans to expand to other countries, including China. This marks the first time Mongolia will export vegetable oil. The country is strategically aiming to diversify its economy, which is heavily reliant on mining, by fully satisfying domestic demand for food commodities and becoming a food exporter.

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Original content

The plant for the production of rapeseed oil in the northern Mongolian province of Selenge has signed an agreement on the export of its products. Mongolia will export vegetable oil for the first time. A rapeseed oil plant in the northern Mongolian province of Selenge has signed an export agreement. The Selenge plant on Tuesday signed an agreement with the South Korean Dansuk Industrial Co., Ltd. The plant, which has a capacity of at least 30,000 tons of rapeseed oil per year, is expected to export 800 tons of rapeseed oil to South Korea in the first stage. Due to the further increase in capacity, the plant aims to export oil to other countries, including China. ...

Source: Oilworld