BRICS Pork Exports To Be Settled in Local Currencies
Russia is advancing its de-dollarization agenda by shifting pork exports to China into local currencies. Transactions will be conducted in rubles or yuan, with an expected volume of 75,000-80,000 metric tons in 2025. This marks a NEAR doubling from 2024's 40,000 metric tons, signaling accelerating bilateral trade momentum.
Agricultural commodities like soybeans and pork have become instruments of monetary policy for BRICS nations. China's recent $23.3 million market access grant to South African farmers contrasts sharply with US protectionism, creating alternative trade corridors that bypass dollar hegemony.
The alliance's quiet pivot toward local currency settlement reflects a strategic divergence from Western financial systems. While not overtly framed as anti-dollar, these moves collectively erode the greenback's dominance in commodity markets.
