Vietnam is Argentina's leading agricultural import market.

Vietnam is the largest importer of corn and soybean meal for animal feed (5.3 million tons), higher than China (4.6 million tons).

Illustrative photo. (Photo: Tran Viet/VNA)

According to a VNA reporter 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.

Argentina's Infobae newspaper and Acercando Naciones website quoted the Rosario Trade Exchange - Argentina's most important grain exchange - as saying that last year, Vietnam was the largest importer of corn and soybean meal for animal feed (5.3 million tons), higher than China (4.6 million tons). Vietnam's import turnover of Argentine soybean meal reached 1.2 billion USD and corn reached 800 million USD.

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 tonnes of cereals and cereal products, down more than 37 million tonnes from 2022 (down 40%) and the lowest output since 2009 due to the impact of a severe drought.

Argentina's Infobae newspaper reported that Vietnam is the country's number one agricultural import market. (Photo: Dieu Huong/VNA)

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 refined oil products are sold to Asian countries, followed by the American market, which accounts for 24%, Europe (12%) and Africa (12%).

Argentina's 2022-2023 crop 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 expects its 2023-2024 crop grain output to increase, with corn possibly reaching a record 59 million tons, soybeans more than 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

Source: https://baolangson.vn/kinh-te/643222-viet-nam-la-thi-truong-nhap-khau-nong-san-hang-dau-cua-argentina.html