Russia’s pork exports to Vietnam fall significantly in November

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Russia’s pork exports to Vietnam plunged 39 percent year-on-year in November due to the latter’ abundant domestic supply and increasing competition from the US, according to the Russian Federal Center for the Development of Export of Agricultural Products (Agroexport).

Russia’s pork exports to Vietnam plunged 39 percent year-on-year in November due to the latter’ abundant domestic supply and increasing competition from the US, according to the Russian Federal Center for the Development of Export of Agricultural Products (Agroexport).

The weakening shipments were atrributed to Vietnamese importers not making advance payment as a result of falling global prices and difficulties in logistics.

Russia remained Vietnam’s largest pork supplier from January to September 2021, accounting for 41 percent of the Southeast Asian country’s total imports, Agroexport said. However, the figure is on the decline due to competition from American rivals after Vietnam lowered its US frozen pork import tariffs to 10 percent from 15 percent.

Such obstacles are likely to remain in 2022, Agroexport added./.