After 20 years of negotiations, the Argentine government today announced an agreement with China to export soymeal livestock feed.

Soymeal livestock feed is Argentina’s largest export product, while China is the world’s largest market for soymeal livestock feed, with more than 500 million cattle and pigs.

The agreement will be formalized tomorrow by Argentina’s Agriculture Minister, Luis Etchevehere, and Chinese Ambassador to Argentina, Zou Xiaoli.

“We are delighted with this announcement; it shows that Argentina is reinserting itself globally, and that our foreign trade policies and high quality food are trusted around the world,” Minister Etchevehere said.

“After the European Union, China is our main trading partner. We have built a very strong relationship that benefits our trade negotiations, …  and this new step will benefit the Argentine soy industry,” he added.

So far this year, 4.3 million tons of soybeans (80% of all Argentine soy exports for 2019) and 163,954 tons of soybean oil, have been exported to China.

In the last four years, the Argentine government has signed agreements with China to export beef, lamb and pork, as well as soybean oil, cherries, citrus fruits, fresh blueberries, dried peas, tangerines and honey.

Argentina is the largest exporter of soymeal and soybean oil in the world and the third largest soybean exporter. Exports for 2019 are expected to reach 26 million tons of soymeal, 6.5 million tons of soybean oil, and 8.5 million tons of soybeans.

The soy industry in Argentina employs 345,000 people, equivalent to 16% of the country’s agricultural workforce.