Tuesday, October 2nd 2012 - 23:17 UTC

Argentina becomes main supplier of soy and soy-oil to Iran in third quarter

Iran made major imports of Argentine soy-oil and soybeans between July and September as Iranian buyers found methods of making payments in the face of western sanctions, Hamburg-based oilseeds analysts Oil World said on Tuesday.

According to Oil World Mercosur supplied Iran with 202.000 tons of soy-oil

Iran imported 202.000 tons of soy-oil in July-Sept. 2012, up from only 160,000 in April-June this year, a figure depressed as sanctions hit shipments, Oil World estimates.

Of the July-Sept. total, 129.000 tons is believed to have been imported from Argentina, 59.000 tons from Brazil and 14.000 tons from Paraguay, Oil World said.

Western sanctions imposed on Iran because of its disputed nuclear program do not include food shipments, but sanctions make it intensely difficult for importers to obtain letters of credit or conduct international transfers of funds through banks.

Iran has been able to make large wheat purchases in past weeks despite sanctions, Reuters reported on Thursday. Iran has also stepped up soybean imports in recent months, Oil World said.

“Iran will import roughly 160.000 tons of soybeans in June/Sept. 2012, the bulk of it from Argentina”, it said. ”This volume compares to only 68.000 tons imported in Jan/May 2012 before importers found ways to purchase large volumes despite the sanctions.”

Iran has also made heavy sunflower oil purchases, raising July-Sept. 2012 sun-oil imports to 154.000 tons from only 75.000 tons in April-June 2012, Oil World estimates.

Ukraine supplied 140.000 tons of the July-Sept. sun-oil imports, Argentina 10.000 tons with the rest mainly coming from Russia, Oil World said.

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1 Steveu (#) Oct 02nd, 2012 - 11:31 pm Report abuse
Well they have something in common. The Iranian Rial has dropped 10% against the $US in one day. See www.telegraph.co.uk/news/worldnews/middleeast/iran/9582262/Iran-threatens-to-turn-security-on-speculators-following-currency-drop.html
2 nigelpwsmith (#) Oct 03rd, 2012 - 12:01 am Report abuse
This trade won't continue for much longer. Not only would it be seen as trading with the enemy by the US & Europe, even CFK may hesitate at accepting radioactive Rials after Israel has finished with Ahmadinejad.

She might hesitate for a few seconds, then greedily accept them all the same!
3 British_Kirchnerist (#) Oct 03rd, 2012 - 02:30 am Report abuse
Good news, hopefully this co-operation will only increase if Iran co-operates on the 1990s bombings...
4 KretinaKK (#) Oct 03rd, 2012 - 02:35 am Report abuse
Kretina is a low down terrorist piece of trash - everybody spread the word - on November 8th there is a huge protest against the Kretina KK government planned - not only in Buenos Aires, but at EVERY Argentine consulate AROUNT THE WORLD. I can't wait to here here feeble defense about how “the media conspiracy planned this”. CFKaKa is hated around the world and this will weaken her puppet corrupt government even further. Everybody sign up for the worldwide protest against this garbage bully puppet government!.......www.facebook.com/events/315644108534028/
5 travellingscotsman (#) Oct 03rd, 2012 - 04:22 am Report abuse
@British Kirchnerist - I would like to know why you think this co-operation is good news. I have no problem with Iranians getting food, none whatsoever, nor do I have any problem with Argentina trading, but links with Iran from Argentina's point of view, will only dampen their already shaky standing in the west, especially in the US. Whether you choose to like the States or not is your decision, but it is still essential for Argentina to get on well with the North and I just don't think that Argentina supporting a regime, that has chosen to continue on a nuclear path, at the detriment of her people and economy, whatever the outcome, is a good political move for Argentina. So are you just making your statement to be devisive or do you actually believe that Argentina isolating itself even further with the most powerful country in the world is a good move?
6 reality check (#) Oct 03rd, 2012 - 05:34 am Report abuse
This is going to please Mr OBANANA, I don,t think!
7 LEPRecon (#) Oct 03rd, 2012 - 06:08 am Report abuse
So now we know what Timidman and Iran were talking about at the UN.

They probably mentioned the 1990's bombing in passing, “ so did you bomb Argentina?”

Iran, “of course not, perish the though.

Argentina, ”good enough for us. So about this trade. We'll sell you a lot more soy etc...for this price. All you have to say is that you support Argentina over the Falklands.“

Iran (under breath ”can you say fanatic?”) outloud, “Sure, Argentina, Falklands we support you.”

“Great let's sign.”
8 Welsh Wizard (#) Oct 03rd, 2012 - 08:40 am Report abuse
Interesting. Argentina is very much against the proliferation of Nuclear weapons and believes in free speech, democracy, human rights...good to see they are able to reconcile this stance with thier trading policy...Iran/Angola etc...
9 JuanGabriel (#) Oct 03rd, 2012 - 11:00 am Report abuse
Up next: Tinman announces new trade deals with North Korea. North Korea says some weasel words about the Falkands, BK ejaculates.
10 Zhivago (#) Oct 03rd, 2012 - 11:40 am Report abuse
זרוע האוויר והחלל
The friend of my enemy is my enemy.
11 yankeeboy (#) Oct 03rd, 2012 - 01:05 pm Report abuse
In the end it doesn't matter, CFK has already burned every bridge with the USA. We will continue to pressure her gov't through financial transactions and all the money Arg owes will eventually have to be paid but most likely they will come to terms once CFK is in jail and they have a new ruler to deal with.
I hope she is watching what is happening in IRAN to let her know what happens to countries that are shut out of the world's finances.

I wonder if she has enough tear gas on hand to control her next uprising?
12 Welsh Wizard (#) Oct 03rd, 2012 - 02:30 pm Report abuse
In other news, an Argentine navy ship has been detained in Ghana following a court order sought by “holdout” creditors suing Argentina in international courts over its 2002 debt default, officials said on Wednesday...
13 Conqueror (#) Oct 03rd, 2012 - 03:32 pm Report abuse
@12 As you say. It turns out the vessel is the ARA Libertad, the sail training ship. Quite funny that the Libertad isn't “at liberty”. Apparently, the argie government is quite upset. They have “blasted” the actions of the creditors. Argie government might be well advised not to let any of their “assets” away from LatAm. Just imagine if the creditors get really organised. Navy vessels being detained in every “foreign” port they enter. Aerolineas Argentinas, air force and government aircraft being detained at foreign airports and air bases. Maybe they could get “Tango One” detained!
14 THEMan (#) Oct 03rd, 2012 - 03:40 pm Report abuse
I would argue that Iran has the right to develop nuclear weapons, on the basis that most of the countries who are in the Nuclear Non-Proliferation Treaty, aren't making any substantial efforts to get rid of their arms. The US has only cut maybe 1,000 but still has over 6,000. The UK still has about 200, Israel has about 300, and many more countries haven't changed at all. Until these countries get rid of all their weapons, Iran can develop any if they want. I simply don't believe all the hype that Iran will attack Israel, but believe the opposite. Israel would bomb Iran to retain military control over the Middle East, and protect 'American Interests' e.g. oil. Overall, the US should shut the fuck up, and keep out of other countries' politics, unless they turn out to be 'Hitlerites' . However, the Iranian people should try and get rid of Khamenei, who's the main problem there anyway.
15 ProRG_American (#) Oct 03rd, 2012 - 03:41 pm Report abuse
Nothing new here. Iran purchases large amounts of food products from Argentina. Including 80% of its rice exports.
16 THEMan (#) Oct 03rd, 2012 - 03:53 pm Report abuse
@141 I should rephrase part of my above post. The US should shut the fuck up, and stop starving thousands of innocent people in Iran with their sanctions.
17 Trunce (#) Oct 03rd, 2012 - 04:00 pm Report abuse
@7 LEPRecon

Entirely plausible scenario.

It’s no surprise that Iran backs RG on Falklands.


CFK may well invite Iran navy to call at B.A. (if it can get that far).

“Iran's Navy has also announced plans to expand its international presence into the Atlantic Ocean.”


But they do have much in common, especially in currency strategy.


An additional bonus would perhaps be a Burqa – something that CFK was surely born for.
18 Truth_Telling_Troll (#) Oct 03rd, 2012 - 04:24 pm Report abuse
“Argentina isolating itself even further with the most powerful country in the world is a good move?”

You make it sound like the USA actually matter. They don't.

They could sink to the sea tomorrow and we still have 90% of our trade with other countries, still have our own music, film, tv, and pretty much most of anything else to continue limping along.

The rest of the anglo world? Sure, the USA dissapears and your are toast. Since you have no culture of your own and everything you import from them.
19 hammerhead993 (#) Oct 03rd, 2012 - 05:06 pm Report abuse
@18 Wow, you're an idiot. Read what you wrote again. Do some thinking and analyze what you wrote. You'll realize how stupid it is. You've never been in the world and had to analyze things have you little boy? When you're 40, and you finally leave your mother's house, and you have to go out in the world, you may understand what I'm talking about.

Wow, again, what a bonehead comment.
20 THEMan (#) Oct 03rd, 2012 - 05:16 pm Report abuse
@18 In Scotland, we have our own culture so I don't know what you're talking about. You really need to stop with the stupid posts sometimes.
21 2012 (#) Oct 03rd, 2012 - 05:21 pm Report abuse
As an argentine citizen I admire Iran.
I remember the Sha of Iran visiting my home town of Comodoro Rivadavia.
I resided in Tehran, Iran for 2 years.
My home was in Shemiran Road, near the Russia and British diplomatic personal residences.
Cross the street there was a bowling/restaurant.
I enjoyed the time I spend in such nice country!
22 Steveu (#) Oct 03rd, 2012 - 05:44 pm Report abuse
@13 Has their navy lost their best ship? LOL
23 yankeeboy (#) Oct 03rd, 2012 - 07:17 pm Report abuse
18. Toby, You are shockingly uneducated on world affairs. It would be wise for you to stop posting about anything other than the Province of Mendoza. You need to get some education and travel before you can speak knowledgeably.
24 Steveu (#) Oct 03rd, 2012 - 08:53 pm Report abuse
@18 I'm sure my local Morris Dancing side would be interested in your comments viz our cultural reliance on the USA!
25 Mendoza Canadian (#) Oct 03rd, 2012 - 10:33 pm Report abuse
Boy...talk about trading with the enemy. Argentina better wake up soon. The Gendarmarie and Prefectura and part of the navy are protesting and on strike right now because CFK issued an order to reduce their salaries. I think she has some nasty shit up her sleeves.
26 Ayayay (#) Oct 03rd, 2012 - 11:35 pm Report abuse
The U.S. isn't refusing to sell food, or stop FOOD from getting to Iran at all. Nor is any other country.


The 'first world' is CHOOSING to buy OIL from 'fair-trade' (relatively) , safer countries. (maybe one that isn't shutting off the internet on it's people).

And the U.S. is reserving use of it's electronic payment infrastructure that it funded, to countries above a certain safety standard.
27 Pirat-Hunter (#) Oct 04th, 2012 - 01:32 am Report abuse
I think both Argentina and Iran can benefit from trading goods, oil is a major issue for Argentina and food is always good to have to prevent social unrest.
28 Redrabs (#) Oct 04th, 2012 - 08:43 am Report abuse
This beggars the question what currency should they trade in since both countries are both volatile at present - should be a stable currency of international reknown - perhaps the US Dollar Euro the Yen or the GB Pound - well that leaves only one whose originators haven't insulted both by Argentina and Iran recently!

Back to barter methinks
29 Mendoza Canadian (#) Oct 04th, 2012 - 11:47 am Report abuse
What is the difference if Iranian citizens starve to death or are shot by their government for protesting? Personally I would rather be shot than starve...quicker don't you think? As for protesting...well the “spring” has to start somewhere. And when the citizens of that country finally do rise up there will be hell to pay.
30 ProRG_American (#) Oct 05th, 2012 - 10:55 pm Report abuse
18 Truth_Telling_Troll
So true

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