BRICS Pork Exports To Be Sold in Local Currencies
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Russia is considering selling pork exports to its BRICS counterpart China in local currencies, such as the ruble and Chinese yuan. The US dollar will be phased out in the transactions, aiding the de-dollarization goal. China is leveraging agricultural products to challenge the US dollar and make local currencies the primary tender for commodities.
BRICS member Russia is expected to export 75,000-80,000 metric tons of pork to China in 2025. All of these transactions will either be settled in the Chinese yuan or the Russian ruble. The pork exports from Russia to China have nearly doubled in a year. Russia exported 40,000 metric tons of meat in 2024 and reached 80,000 in 2025.
The BRICS alliance used agricultural products like soybeans and pork to advance local currencies this year. “Deliveries were made last year only during the second six months. Nevertheless, about 40,000 tons were sold last year. There is no sense to talk about incremental growth in percent this year because the bases cannot be compared. We think we will sell about 75,000-80,000 tons,” said Yuri Kovalev, the General Director of the National Union of Swine Breeders.
Also Read: BRICS Is Fading US Dollar & Power: Sachs Finally Explains Why
BRICS: Pork Exports To be Settled in Local Currencies
Apart from pork, BRICS members China and Russia have used soybeans and other agricultural commodities to take on the US dollar. Just recently, China opened up its agricultural market to South Africa, allowing it access to the $23.3 million market. South African farmers would benefit immensely from the deal, as the US is closing its doors through tariffs.
China is opening the doors to trade, while the US is closing its doors with trade wars and tariffs. While BRICS is no longer vocal about de-dollarization, they are pushing the agenda with policies, including pork exports. American farmers were reeling under pressure this year as China halted shipments from the US.
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BRICS Pork Exports To Be Sold in Local Currencies
Share:
Russia is considering selling pork exports to its BRICS counterpart China in local currencies, such as the ruble and Chinese yuan. The US dollar will be phased out in the transactions, aiding the de-dollarization goal. China is leveraging agricultural products to challenge the US dollar and make local currencies the primary tender for commodities.
BRICS member Russia is expected to export 75,000-80,000 metric tons of pork to China in 2025. All of these transactions will either be settled in the Chinese yuan or the Russian ruble. The pork exports from Russia to China have nearly doubled in a year. Russia exported 40,000 metric tons of meat in 2024 and reached 80,000 in 2025.
The BRICS alliance used agricultural products like soybeans and pork to advance local currencies this year. “Deliveries were made last year only during the second six months. Nevertheless, about 40,000 tons were sold last year. There is no sense to talk about incremental growth in percent this year because the bases cannot be compared. We think we will sell about 75,000-80,000 tons,” said Yuri Kovalev, the General Director of the National Union of Swine Breeders.
Also Read: BRICS Is Fading US Dollar & Power: Sachs Finally Explains Why
BRICS: Pork Exports To be Settled in Local Currencies
Apart from pork, BRICS members China and Russia have used soybeans and other agricultural commodities to take on the US dollar. Just recently, China opened up its agricultural market to South Africa, allowing it access to the $23.3 million market. South African farmers would benefit immensely from the deal, as the US is closing its doors through tariffs.
China is opening the doors to trade, while the US is closing its doors with trade wars and tariffs. While BRICS is no longer vocal about de-dollarization, they are pushing the agenda with policies, including pork exports. American farmers were reeling under pressure this year as China halted shipments from the US.
Read More
BRICS Becomes Lifeline For Farmers As China Opens $23.3 Million Market