Russia’s pork exports to Vietnam in November sees sharp fall
VOV.VN - Russia’s pork exports to the nation endured an annual drop of 39% in November due to the country’s abundant domestic supply and growing competition from the United States, according to the Russia Federal Center for the Development of Export of Agricultural Products (Agroexport).
The shrinking shipments can largely be attributed to Vietnamese importers not making advance payments as a result of falling global prices coupled with difficulties in logistics.
Russia remained the nation’s largest pork supplier from January to September, accounting for 41% of total Vietnamese imports, Agroexport said. However, the figure has seen a downturn due to competition from US rivals after the country lowered its US frozen pork import tariffs to 10% from 15%.
Agroexport went on to state that such hindrances are likely to continue into next year.