Popular Post snoop1130 Posted October 28, 2020 Popular Post Share Posted October 28, 2020 U.S., Vietnam sign $500 million deal to form 'Pork Consortium' By Khanh Vu FILE PHOTO: A sculpture of a pig is seen in downtown Smithfield, Virginia, U.S. October 17, 2019. REUTERS/Tom Polansek HANOI (Reuters) - The Vietnam Trade Alliance, a grouping of buyers and producers, signed a pact on Wednesday to buy up to $500 million worth of American pork over three years, the U.S. embassy in Hanoi said on Wednesday. A memorandum of understanding called a "U.S.-Vietnam Pork Consortium" was signed with Smithfield Foods and other U.S. pork producers on the sideline of a virtual Indo-Pacific Business Forum on Wednesday. Pork accounts for three-quarters of total meat consumption in Vietnam, a country of 96 million people where most of its farm-raised pigs are consumed domestically. The Southeast Asian country is rebuilding its hog herd after an outbreak of African swine fever first detected in February last year forced it to cull millions of pigs, or 20% of the herd. In May it said it would buy 20,000 breeding pigs from Thailand. Vietnam Trade Alliance will buy U.S. chilled and frozen pork and pork products for further processing and distribution into the Vietnam market, the statement said. Vietnam's pork imports from the United States rose to $35 million in the first eight months of this year from $4 million in 2015, it said. "This export activity will also help increase overall U.S. agricultural exports to Vietnam, help address the U.S.-Vietnam trade imbalance, and directly support U.S. farmers and ranchers and processing companies.," the statement said. Vietnam has been seeking to import more U.S. goods, including liquefied natural gas, coal and crude oil, to help narrow the trade gap following last year's threats by President Donald Trump to impose tariffs on its products. Its trade surplus with the U.S. widened to $44.3 billion in the first nine months of this year from $33.96 billion in the same period of 2019, according to the government’s customs data. -- © Copyright Reuters 2020-10-28 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 3 Link to comment Share on other sites More sharing options...
IAMHERE Posted October 29, 2020 Share Posted October 29, 2020 Looks like the US will be shipping thru the South China Sea to Vietnam. Link to comment Share on other sites More sharing options...
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