As a result of the anticipated low soybean production in Argentine for 2022/23, the country's soybean industry has resorted to importing soybeans from neighbouring countries, namely Brazil and Paraguay.

Brazil, in particular, has seen a substantial increase in soybean exports to Argentine, with 943 thousand metric tons (KMT) being exported between January and April 2023, compared to just 49 KMT during the same period the previous year. Of the total exported quantity, 539 KMT were shipped to Argentine in April alone, making it the highest volume of soybean exports from Brazil to Argentine in history. The increase in soybean exports from Brazil is expected to continue as the demand for soybeans in Argentine continues to rise due to the shortage of local production caused by the drought.