Argentina's agricultural exports fell by 40% in 2023

 

Agriculture is the main activity of Argentina. Argentina's major agricultural exports include soybeans, wheat, poultry meat, wool and wine. It is also the leading wool and wine producer. According to Argentina import export data reports, over 58 million tonnes of agricultural exports were made in 2023 showing a 40% decline as compared to previous year. 

During the financial year 2023, Argentina accounted for over 40% of world's overall soybean oil and soybean meal exports. Argentina export data shows that the country's soybean meal exports were around $12 billion during last year. Whereas, the soybean oil exports were recorded to be $6.8 billion in 2023. 

Vietnam was the biggest importer of Argentina's soybean meals responsible for 12.5% market share. Among the fastest growing markets for Argentina's soybean meals exports were Indonesia, Poland, Spain, Malaysia and Turkey. Whereas, 45% of Argentina's soybean oil exports were made to India followed by Bangladesh (7.5%), Peru (5.4%), South Korea (3.4%).

Also, Argentina was ranked second biggest corn exporter in the world. In 2023, Argentina exported over 31 million tonnes of corn which was worth around $9.8 billion. Argentina’s main markets for corn exports were Vietnam (13.8%), South Korea (13%), Malaysia (11.5%), Peru (8.5%) and Algeria (7.2%) respectively.

Wheat, Soybeans, Barley, Sorghum, Ground Nuts and Dried Legumes were other major agricultural exports from Argentina during last year. In terms of export value, Argentina’s export value for Wheat ($4.8 Billion), Soybeans ($3.3 Billion), Barley ($1.3 Billion), Sorghum ($480 Million), Ground Nuts ($818 Million), and Dried legumes ($460 Million).

Argentina's wine exports were nearly $1.05 billion in fiscal year 2023. These figures might increase but due to high domestic consumption, wine exports stood around $1 billion. Argentina's biggest wine market was the United States which accounted for 27% wine exports share. Along with the United States, United Kingdom, Brazil, Canada, China, and Netherlands were the fastest growing markets for the country's wine exports. 

On the other hand, Argentina's meat exports shipments were 377K in 2023. The total value was estimated to be over $16 billion. The biggest markets for Argentina's meat exports were Belgium, China, Italy, Israel, Germany and the Netherlands. 

In terms of fruits exports, Argentina's total fruits exports were estimated to be $3.02 billion in 2023. The country's top fruits exports includes pears, cherries, oranges, apricots, apples, and blueberries. The top markets for Argentina’s fruits exports were Netherlands (31%), Russia (14%), United States (13%) and Brazil (11%).

On the other hand, over $1.1 billion worth of vegetables were exported from Argentina during fiscal year 2023. Brazil was the biggest importer of vegetables from Argentina with 41% market share. There was a notable amount of vegetable exports made to SPain, Italy, Turkey and the United States.

In this blog, we have studied about the detailed overview of Argentina’s agricultural exports during fiscal year 2023. Import Export business owners from Argentina could access such reports through the assistance of global import export data providers.  Companies could gain insights over market demand, price forecasts, supply chain networks, ports volume and potential buyers from the international market. Companies could find genuine leads and enhance ROI  through market intelligence reports.