April 2, 2023

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Argentina to export 550,000 tonnes of soybean meal to India: US $ 220 million to enter

After Foreign Minister Santiago Kafiro’s visit to India, 550,000 tons of soybean meal was allocated to that market. The Ministry of External Affairs has been informed Nation. This represents a $ 220 million business.

This is a great business opportunity to place goods from our country”, Highlighted from that portfolio. Commenting on this, Kafiro said: “The purpose of this tour is to increase the bilateral exchange of goods such as soybean and sunflower oil and to increase the supply of soybean food to more Argentina exportable supplies.” As part of a tour of the country, the Argentine official met Prime Minister Narendra Modi in New Delhi last Tuesday.

Soybean meal is Argentina’s main exporter: last year it had a revenue of US $ 12,105 million. In addition, it is a leading country in world trade, accounting for 38% of total sales.

It should be noted that last March, the government suspended soybean food and oil exports for almost a week and then increased. Between 31% and 33% of these by-products were set aside to stabilize the wheat and raise funds with the proceeds to subsidize the flour for that grain to the bakeries.

The country sells Indian goods for about US $ 2.5 billion. Of that value, more than 80% corresponds to crude soybean oil. This is a product that maintains that participation.

“Argentina has a very important relationship with India, which has proven to be more than 70% in trade growth. It can be expanded through possibilities in areas such as the knowledge economy, technology, mining and food, ”Kafiro said during a meeting with the Prime Minister last Tuesday.

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According to a statement from the Ministry of Foreign Affairs, the meeting highlighted the “challenge to improving the global agenda for the South and the importance of bilateral cooperation in multilateral fora such as the WTO or the G20 based on emerging economies. It will continue to be developed in Indonesia, India and Brazil.”

On the other hand, Kafiro participated in the Raisina Dialogue, India’s Annual Conference on Geopolitical and International Relations, attended by officials, political leaders, academics, researchers and journalists from around the world.

“Political relations are going to be overcome by integrating policies in multilateral forums. Strengthen the global Southern agenda and strengthen the CELAC-India mechanismArgentina, which has not met for five years, is holding the post of interim president.

The Foreign Ministry said Kafiro spoke before businesses and local chambers about Argentina’s investment potential in food, renewable energy, mining, energy, electromobility and the knowledge economy. He said that as a result of the lithium extraction projects, the country has, in essence, taken an appropriate place in energy conversion with regard to the growth of the mining and chemical industry. Answer a question தேசம், In the export industry of cereals and by-products, they said they did not have definite information on the allocation of soybean meal.

Meanwhile, after China today approved drought-tolerant transgenic soybean from Argentine company Bioceres, Cafiero pointed out: “This is a new record for Argentine exports, based on the capabilities of our manufacturing infrastructure, universities and researchers. The scientific-technological development used in agricultural production is a good way to add more value to Argentine work. We have been working closely with other National Ministries from the Ministry of Foreign Affairs to this end.

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