Russia’s pork exports to Vietnam fall significantly in November
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).
Moscow (VNA) – Russia’s pork exports to Vietnamplunged 39 percent year-on-year in November due to the latter’ abundant domesticsupply and increasing competition from the US, according to the Russian FederalCenter for the Development of Export of Agricultural Products (Agroexport).
The weakening shipments were atrributed to Vietnamese importers not making advance payment as a resultof falling global prices and difficulties in logistics.
Russia remained Vietnam’s largest pork supplier from Januaryto September 2021, accounting for 41 percent of the Southeast Asian country’stotal imports, Agroexport said. However, the figure is on the decline due tocompetition from American rivals after Vietnam lowered its US frozen porkimport tariffs to 10 percent from 15 percent.
Such obstacles are likely to remain in 2022,Agroexport added./.
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