Argentine exports are experiencing an unprecedented boom in recent years, driven by a surge in hydrocarbon production, mining, and a record grain harvest.
According to estimates by the center-right think tank Fundación Capital, goods exports could exceed US$100 billion by the end of the year, surpassing the all-time record of US$88.7 billion set in 2022. Exports are projected to reach a similar figure in 2027.
Against this backdrop, a report by consulting firm Biglobal argued that Asia “is consolidating its position as one of the main drivers of growth in global food demand,” creating an opportunity for Argentina to diversify its export markets beyond China.
“Its productive capacity and agricultural and food supply enable it to meet the needs of expanding markets, deepen trade ties, and diversify export destinations,” the report said.
According to the OECD-FAO Agricultural Outlook 2026–2035, lower-middle-income countries, led by India and Southeast Asian economies, “will account for 39% of global growth in agricultural and fish consumption.”
In addition, Biglobal analysts said that economies in the region “are seeking to expand their supplier networks and reduce their dependence on a handful of trading partners” to strengthen supply security.
India’s opportunity
India is emerging as one of the most important markets for Argentine exports, given its already significant share of the country’s export portfolio. It ranks as the fifth-largest destination for Argentine products, with exports totaling US$4.2 billion between January and August 2026, according to data from INDEC, Argentina’s national statistics agency.
“India is a large-scale, fast-growing market, driven by services, industry, and expanding domestic consumption. Its demand for energy and food offers opportunities for Argentine exports,” Biglobal explained.
The report noted that India’s demand for vegetable oils is “particularly relevant for Argentina,” as soybean and sunflower oils account for more than 80% of Argentine sales to that market.
The study also pointed to efforts by both countries to secure market access for citrus fruits, walnuts, blueberries, and lentils, which would help diversify Argentina’s exports to India. It also highlighted that rising protein consumption in India is creating opportunities for Argentine seafood and other fishery products.
However, Indian investment in Argentina remains low. As of March 2026, it totaled just US$143 million, with investments spanning technology services, agrochemicals, and pharmaceuticals, according to the Central Bank of Argentina (BCRA).
Vietnam and Singapore: Food and an export platform
Vietnam, meanwhile, combines a strong manufacturing and export base with demand for grains and animal feed inputs “that complements Argentina’s supply,” the report said.
Last year, Argentina exported US$2.7 billion worth of goods to Vietnam, making it the sixth-largest destination for Argentine products.
However, as with India, trade has not translated into substantial Vietnamese investment in Argentina: it amounted to just US$4 million in the first quarter of 2026.
“Bilateral investment remains limited relative to the scale of trade,” the report noted.
For Argentina, the report identified opportunities for cooperation in agribusiness, food processing, biotechnology, and food-related value chains.
It also highlighted that Mercosur and Vietnam are negotiating a preferential trade agreement to improve market access and diversify export opportunities.
Singapore, meanwhile, already has a free trade agreement with the South American bloc, although Argentina is the only member country that has yet to ratify it.
For Argentine companies, Singapore “can serve as a trade, logistics, or services hub from which to expand into the rest of Asia.” Singaporean foreign direct investment (FDI) holdings in Argentina total US$911, concentrated in mining and manufacturing.
South Korea and Japan: Investment and technology
Although negotiations for a free trade agreement between South Korea and Mercosur have been stalled since 2021, the Argentine government signed a memorandum of cooperation on critical minerals with South Korea this year.
According to the report, South Korea offers Argentina opportunities for cooperation and investment related to critical minerals, technology, and industrial value chains.
The report cited investment by South Korean mining company POSCO in the Sal de Oro lithium project, located between the provinces of Salta and Catamarca, where announced investment exceeds US$2 billion.
Japan, meanwhile, has the largest FDI presence among the Asian countries discussed, with total investment of US$2.6 billion, concentrated primarily (75%) in the automotive sector. Toyota is a prominent example, producing several vehicles in Argentina.
The Japanese company is also involved in the Olaroz lithium project in Jujuy province.
Like South Korea, Japan is a high-income market with significant demand for imported food and energy resources.
For Argentina, both countries therefore offer opportunities to expand agricultural and food trade and attract investment.
La entrada Beyond China: Argentina can deepen trade with five strategic Asian markets se publicó primero en Buenos Aires Herald.