CH Robinson, a third-party logistics provider, has recorded an 11 per cent drop in revenues relating to the buying and selling of fresh produce by its sourcing unit.
The Minnesota-based firm revealed sales at its sourcing unit fell to US$423.5m in the three months to the end of June, from US$476.1m in the same period of 2010.
Retail giant Walmart's decision to buy more of its fruit and vegetables directly from growers is widely thought to be a significant factor in an average 11 per cent decline in sourcing revenues over the last three quarters.
CEO John Wiehoff said: 'That programme has essentially been completed. We do continue to do business with Walmart. We continue to try to earn more business every day and grow back in some of those relationships.'
Sourcing generates around 15 per cent of CH Robinson's total revenues, which last year were almost US$9.3bn, making it one of the largest third-party logistics providers in the world.
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