Việt Nam, Argentina reap benefits of agricultural diplomacy

Việt Nam, Argentina reap benefits of agricultural diplomacy

Argentina is also the world’s largest exporter of soybean oil, accounting for 48.3 per cent of global market share in 2024, and the second-largest exporter of soybean meal after Brazil, with a 21.7 per cent share.

Leaders of the Buenos Aires Grain Exchange and the Argentine Soybean Chain Association pose for a photo with press representatives from countries with key agricultural ties with Argentina. — VNA/VNS Photo

Amid fluctuations in global supply chains, agricultural trade between Việt Nam and Argentina is making notable progress, with Việt Nam now becoming the largest importer of soybean meal from the South American country. 

The information was highlighted at a press conference in Buenos Aires on Wednesday (local time) to announce that Argentina will host the 12th World Soybean Research Conference (WSRC12), scheduled to take place in April 2027 in the city of Rosario, one of Argentina’s most important agricultural-industrial and agricultural export hubs. 

Presenting the latest trade data at the press conference, Rodolfo Rossi, President of the Argentine Soybean Chain Association (ACSoja), said Southeast Asia is emerging as a major global consumption hub. Việt Nam is now Argentina’s largest importer of soybean meal, ahead of other regional markets such as Malaysia and Indonesia, he said. 

In 2025, the soybean value chain was Argentina’s largest agricultural export earner, raking in around US$21.44 billion, up 9.2 per cent from 2024 and accounting for 24.6 per cent of the country’s total merchandise exports. 

By market, China was the largest buyer at $4.79 billion, followed by India at $3.72 billion and Việt Nam at $1.6 billion. 

Argentina is also the world’s largest exporter of soybean oil, accounting for 48.3 per cent of global market share in 2024, and the second-largest exporter of soybean meal after Brazil, with a 21.7 per cent share. For whole soybeans, however, Argentina ranked fifth globally, accounting for 2.3 per cent of global exports. 

Speaking to Vietnam News Agency (VNA) correspondents on the sidelines of the event, Ricardo Marra, President of the Buenos Aires Grain Exchange, said the establishment of the Agricultural and Industrial Attaché Office of Argentina in Hà Nội in July 2025 not only boosted trade in soybean meal but also facilitated exports of other products to Việt Nam, including meat. 

Analysing shifts in global trade flows, Ricardo Bergmann, Vice President of ACSoja, said Argentine soybean meal had previously been exported mainly to European markets.

However, new trade agreements and global trends have shifted the focus towards Southeast Asia. He stressed that Việt Nam had become a key customer, purchasing large volumes of soybean meal for use in livestock production and the food industry. 

Regarding the launch of the Agricultural and Industrial Attaché Office of Argentina in Hà Nội, he said that the move reflected Argentina’s aim to maintain its position as a leading soybean meal supplier while expanding opportunities for other agricultural products to enter the Vietnamese market and the wider Southeast Asian region. 

Bizhub