Argentina is the world's leading exporter of soybean products (oil and meal), and a possible reduction in Chinese demand for beans could lead to greater availability of raw materials for the local industry.
The resumption of soybean purchases by China from the United States, agreed upon at the recent meeting between Donald Trump and Xi Jinping, could affect Argentina through a drop in the prices of the oilseed and a lower demand for the national grain.
The commitment of the Asian giant to purchase "massive" amounts of U.S. agricultural products injects a new competitive factor into global trade, jeopardizing the export boom that South America had experienced during the trade war.
This purchase was confirmed by Trump, on his way back to his country after meeting with Xi Jinping.
Trump had been under great pressure from American "farmers" over the closure of trade with China, who also questioned his aid package to Argentina.
The main blow came when the Argentine government temporarily eliminated export duties to acquire dollars, which favored sales to China at a time when it could not access U.S. soybeans due to high tariffs.
The agreement included Beijing's commitment to purchase up to 12 million tons of U.S. soybeans in the short term, as confirmed by Scott Bessent, U.S. Treasury Secretary.
This volume reactivates a commercial flow that had been frozen by Chinese retaliatory tariffs and had directly benefited Argentina and Brazil.
Analysts warn that the entry of this large volume of U.S. goods creates a "bearish" pressure on soybean quotations on the Chicago Board of Trade, which inevitably spills over to the local market.
During the period of trade tension, Argentina had managed to place record volumes of soybeans in China.
According to recent figures, the country exported about 12 million tons of soybeans to the Asian giant this year, quadrupling the average of the last decade.
However, in the Argentine agro-industrial sector, alarms are being tempered with a potential benefit.
This remarkable growth could now be interrupted as the U.S. regains its place as a priority supplier.
