Agriculture is an important sector in the Mongolian economy, producing over 20 per cent of GDP and generating more than 10 per cent of the national hard currency revenue from exports. On 8th of May, the spring sowing the spring sowing officially began in the Mongolian Provinces of Tuv, Selenge, Khentii, Sukhbaatar and Khuvsgul.
According to the Ministry of Food and Agriculture, Mongolia is expecting to cultivate crops over a total of 381.6 hectares. The official figures which have been released provide the following breakdown: 362.1 thousand hectares of corn, 15.1 thousand hectares of potatoes, 8.5 thousand hectares of vegetables, 23.2 thousand hectares of fodder, 28.6 thousand hectares of oil plants and a thousand hectares of fruits.
More than 1300 companies and individuals are engaged in cultivation across the country; over 400 has requested interest-free loans from the government.