The Infobae and Acercando Naciones newspapers cited the Rosario Grains Exchange (BCR) - the most important grain exchange floor of the country, as saying that Vietnam emerged as the largest importer of corn and soybean powder for animal feed last year with a combined volume of 5.3 million tonnes worth 2 billion USD.
Regarding two-way trade, Vietnam ranked seventh among the biggest trade partners of the Latin American country in the year.
Last year, the third-largest economy in Latin America exported nearly 56 million tonnes of grains and processed grain products, a decrease of over 37 million tonnes or 40% compared to 2022, marking the lowest output since 2009, primarily due to severe and prolonged drought. In 2019, Argentina set a record export volume of these items with 100.5 million tonnes.
Approximately 50% of the volume of grains, processed grain products, and processed oil from seeds produced in Argentina is sold to Asian countries.
The grain output of Argentina in the 2022-2023 crop reached only 83.4 million tonnes, experiencing a decline of 38%.
This year, thanks to favourable climate conditions and abundant rainfall, Argentina anticipates an increase in grain production for the 2023-2024 crop, with corn output expected to reach a record level of 59 million tonnes.
Argentina remains one of the world's largest producers and exporters of soybeans, corn, and wheat.
