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.
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