Argentina Petroleum Oils Export Market -- HS Code 2710 Trade Data & Price Trend (Feb 2025)

Argentina Petroleum Oils Export (HS 2710) Key Takeaways

Argentina's petroleum oils exports under HS code 2710 saw a sharp 47% value drop in February 2025, driven by plunging unit prices and weaker demand, signaling heightened market volatility. The trade remains dominated by bulk-grade petroleum oils, with a specialized higher-value segment (54% of exports) priced at $10.20/kg, while Paraguay emerged as the top bulk buyer with 17.3% of total value and extreme shipment frequency. This analysis covers February 2025 and is based on cleanly processed customs data from the yTrade database.

Argentina Petroleum Oils Export (HS 2710) Background

What is HS Code 2710?

HS Code 2710 covers petroleum oils and oils obtained from bituminous minerals (other than crude), including preparations containing ≥70% petroleum oils. These products are critical for industries such as transportation, manufacturing, and energy, driving stable global demand due to their role in fuel and lubricant production. Argentina's petroleum oils export under this code reflects its refining capacity and strategic position in regional supply chains.

Current Context and Strategic Position

In November 2025, Argentina eliminated export duties on oils and lubricating liquids under HS Code 2710 via Decree 811/2025 [KPMG]. This policy shift aims to boost competitiveness and align with broader export liberalization efforts, including the removal of taxes on conventional crude [S&P Global]. Argentina's petroleum oils export sector benefits from its refining infrastructure and proximity to key markets like Paraguay and Brazil [OEC]. With the EU set to impose new import restrictions on HS 2710 products in 2026 [Trade Compliance Resource Hub], market participants must monitor trade flows and policy adjustments closely.

Argentina Petroleum Oils Export (HS 2710) Price Trend

Key Observations

Argentina's Petroleum oils exports under HS code 2710 saw a sharp contraction in February 2025, with total value falling to $14.66 billion from $27.76 billion in January. Unit prices dropped significantly to $6.31/kg from $10.30/kg, while export volumes declined to 2.32 billion kg from 2.70 billion kg.

Price and Volume Dynamics

The Argentina Petroleum oils Export trend shows a pronounced sequential decline across all key metrics in February. The 47% month-over-month drop in export value was driven by both lower volumes and a 39% decrease in unit prices, reflecting heightened price sensitivity and potentially compressed margins. This abrupt pullback suggests a combination of weaker global demand and competitive pressures impacting the hs code 2710 value trend early in the year, as markets adjusted from January's elevated levels.

External Context and Outlook

The February downturn occurred amid typical volatility in global oil markets, where prices respond rapidly to demand shifts and inventory adjustments. While Argentina later implemented export duty eliminations for petroleum products [KPMG], these measures were announced after February and thus did not influence this period's performance. Near-term prospects will likely hinge on global energy demand patterns and Argentina's ability to maintain competitiveness in regional markets.

Argentina Petroleum Oils Export (HS 2710) HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, Argentina's export of HS Code 2710 in February 2025 is dominated by a specific grade of petroleum oil not classified as light, which accounts for 54% of the total export value. This product, described as petroleum oils and oils from bituminous minerals that are not light oils and preparations, has a unit price of 10.20 USD per kilogram, highlighting its role as a specialized, higher-value export. A separate high-value anomaly is the light oils sub-code with a unit price of 24.72 USD per kilogram, which has been isolated from the main analysis due to its extreme price point.

Value-Chain Structure and Grade Analysis

The analysis of HS Code 2710 trade data reveals that the non-anomalous exports fall into two main categories: medium-value not light oils with unit prices around 10 USD per kilogram, and lower-value oils—both light and not light—with unit prices typically between 1 and 2 USD per kilogram. This structure indicates a trade in fungible bulk commodities, where price is primarily determined by quality grade and refining level rather than significant value-added processing, with no clear distinction between light and heavy oils in terms of value stratification.

Strategic Implication and Pricing Power

For exporters, the focus on higher-value grades under Argentina HS Code 2710 Export suggests potential pricing power in specialized segments, but the prevalence of low-value commodities means overall market competition remains high. Strategic efforts should prioritize sustaining the high-value exports to leverage Argentina's position, while monitoring grade-specific demand shifts to avoid over-reliance on volatile lower-tier markets.

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Argentina Petroleum Oils Export (HS 2710) Destination Countries

Geographic Concentration and Dominant Role

Paraguay was the dominant destination for Argentina's Petroleum oils exports in February 2025, taking 17.28% of the total value. Its share of weight was even higher at 17.73%, showing a bulk trade pattern where volume slightly outpaces value. This suggests Paraguay primarily imports larger quantities of standard-grade petroleum oils. The country also had an extremely high shipment frequency, accounting for nearly a quarter of all export transactions. This combination of high volume and high frequency points to a steady flow of bulk shipments, likely driven by geographic proximity and integrated energy supply chains.

Destination Countries Clusters and Underlying Causes

The top buyers form three clear clusters. The first is a High-Yield cluster including the United States and Brazil. Both show a value share that is close to or exceeds their weight share, indicating they purchase higher-value or more processed variants of petroleum oils from Argentina. The second is a Volume cluster with Chile and Uruguay. Their weight shares are their most significant metric, confirming their role as major bulk buyers of standard product, facilitated by regional trade agreements. A third, smaller Niche cluster includes Spain and the Netherlands. They have low volume but respectable value shares, suggesting targeted purchases of specialized petroleum products.

Forward Strategy and Supply Chain Implications

Argentina's export strategy for petroleum oils should focus on capturing higher margins from the US and Brazilian markets while maintaining efficient logistics for bulk buyers in Paraguay and Chile. The recent elimination of export duties on certain oils, as reported by KPMG [KPMG], is a policy tailwind that supports volume. However, the impending EU ban on CN code 2710 imports from January 2026, noted by the Trade Compliance Resource Hub, means reliance on the Spanish market will need to be reevaluated. Optimizing the supply chain for cost-effective bulk shipments to neighboring countries remains crucial for maintaining Argentina's competitive edge in regional petroleum oils trade.

Table: Argentina Petroleum Oils (HS 2710) Top Destination Countries (Source: yTrade)

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Argentina Petroleum Oils (HS 2710) Buyers Analysis

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Action Plan for Petroleum Oils Market Operation and Expansion

Strategic Supply Chain Overview

The Argentina Petroleum oils Export market is defined by product grade and destination. The hs code 2710 trade data shows a clear split between high-value specialized oils and lower-value bulk commodities. Price is primarily driven by quality grade, not crude type. This creates a two-tier market.

The Petroleum oils supply chain faces two key implications. First, regional bulk buyers like Paraguay require efficient, high-volume logistics for steady shipments. Second, high-value buyers like the US and Brazil demand secure access to specialized grades. A major external risk is the 2026 EU ban on these imports, which will disrupt the niche European market.

Action Plan: Data-Driven Steps for Petroleum oils Market Execution and Expansion

• Use hs code 2710 trade data to track unit prices by destination monthly. This will identify which buyers are purchasing high-value grades, allowing for targeted marketing and premium pricing to maximize margins from markets like the US and Brazil.
• Diversify export destinations for high-value grades ahead of the 2026 EU ban. Begin building relationships with alternative niche buyers in other regions to replace the lost Spanish and Dutch business and protect specialized revenue streams.
• Optimize the Argentina Petroleum oils supply chain for bulk shipments to Paraguay and Chile. Negotiate long-term logistics contracts for volume discounts to maintain a low-cost advantage for these core, high-frequency buyers.
• Leverage the recent elimination of export duties on certain oils. Use this policy change to competitively price medium-grade oils, gaining market share in volume-driven regional markets while protecting profitability.

Take Action Now —— Explore Argentina Petroleum oils Export Data

Frequently Asked Questions

Q1. What is driving the recent changes in Argentina Petroleum oils Export 2025 February?

Argentina's petroleum oils exports saw a sharp 47% drop in value in February 2025, driven by lower volumes and a 39% decline in unit prices. This reflects weaker global demand and competitive pressures in the oil market.

Q2. Who are the main destination countries of Argentina Petroleum oils (HS Code 2710) 2025 February?

Paraguay was the top buyer, accounting for 17.28% of export value, followed by the U.S. and Brazil, which purchased higher-value grades. Chile and Uruguay were major bulk buyers.

Q3. Why does the unit price differ across destination countries of Argentina Petroleum oils Export?

Price differences stem from product grades—higher-value exports (e.g., to the U.S. and Brazil) include specialized oils priced at ~24.72 USD/kg, while bulk buyers like Paraguay receive standard-grade oils at 1–10 USD/kg.

Q4. What should exporters in Argentina focus on in the current Petroleum oils export market?

Exporters should prioritize sustaining high-value sales to markets like the U.S. and Brazil while optimizing bulk shipments to regional buyers like Paraguay, where demand is steady but margins are lower.

Q5. What does this Argentina Petroleum oils export pattern mean for buyers in partner countries?

Bulk buyers (e.g., Paraguay) benefit from reliable, cost-effective supply, while niche markets (e.g., Spain) access specialized grades. The U.S. and Brazil gain higher-quality products at premium prices.

Q6. How is Petroleum oils typically used in this trade flow?

Argentina’s exports under HS Code 2710 primarily serve energy and industrial needs, with bulk grades used for fuel and processed variants likely for refining or specialty applications.