Vietnam is the largest importer of corn and soybean meal for animal feed (5.3 million tons), higher than China (4.6 million tons).
According to a VNA correspondent in Buenos Aires, 2023 is the second consecutive year that Vietnam has surpassed China to become Argentina's largest agricultural importer in terms of volume. In terms of trade, Brazil is Argentina's number one partner, followed by the US and China. Vietnam ranks 7th.
According to the Argentine newspaper Infobae and the Acercando Naciones website, citing the Rosario Trade Exchange, Argentina’s most important grain exchange, Vietnam was the largest importer of corn and soybean meal for animal feed last year (5.3 million tons), higher than China (4.6 million tons). Vietnam’s import turnover from Argentina reached 1.2 billion USD for soybean meal and 800 million USD for corn.
According to the same source, in Asia, Malaysia imported 3.3 million tons of grain and processed grain products from Argentina, followed by South Korea (2.9 million tons) and Indonesia (2 million tons).
Last year, Latin America's third-largest economy exported nearly 56 million tons of cereals and cereal products, down more than 37 million tons compared to 2022 (down 40%) and the lowest output since 2009 due to the impact of a severe drought.
In 2019, Argentina's exports of cereals and cereal products reached a record level of 100.5 million tons.
About 50% of Argentina's exported cereals, processed cereal products and processed seed oils are sold to Asian countries, followed by the American market, accounting for 24%, Europe (12%) and Africa (12%).
Argentina's 2022-2023 grain output is expected to reach only 83.4 million tons, down 38%. This year's crop, thanks to favorable weather conditions and abundant rain, Argentina is expected to increase its 2023-2024 grain output, with corn possibly reaching a record 59 million tons, soybeans over 52 million tons, and wheat 15.5 million tons. Argentina is one of the world's leading producers and exporters of soybeans, corn, and wheat./.
Source: https://www.vietnamplus.vn/viet-nam-la-thi-truong-nhap-khau-nong-san-hang-dau-cua-argentina-post926816.vnp
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