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Last updated: 1 year ago
News and Updates
Recent News
US Increases Export of Vegetable Oils to Mongolia Amid Rising Demand
The United States has seen a significant rise in vegetable oil exports to Mongolia, driven by growing demand for cooking oils and processed food ingredients in the region.
2023-10-15
Impact: This surge is expected to strengthen trade ties and increase US market share in Mongolia's vegetable oil sector, potentially leading to long-term contracts.
Mongolia Seeks to Diversify Vegetable Fat Imports with US Suppliers
Mongolian officials have expressed interest in diversifying their vegetable fat and oil imports by partnering with US suppliers to reduce reliance on traditional sources.
2023-09-22
Impact: This could lead to an increase in US exports of vegetable fats and oils (HS Code: 1516) to Mongolia, fostering new trade opportunities.
Recent bilateral trade discussions between the US and Mongolia emphasized the potential for growth in the vegetable oil trade, with both sides exploring tariff reductions.
2023-08-10
Impact: If successful, these talks could lower trade barriers, boosting US vegetable oil exports to Mongolia and enhancing economic cooperation.
Policy Updates
US-Mongolia Trade Agreement Review
The US and Mongolia are reviewing their trade agreement to include provisions for reduced tariffs on agricultural products, including vegetable fats and oils (HS Code: 1516), to facilitate smoother trade.
Date: 2023-09-05
Mongolia Updates Import Regulations for Vegetable Oils
Mongolia has introduced new quality and labeling standards for imported vegetable oils and fats, aiming to ensure consumer safety and align with international norms, which may affect US exporters.
