HAMBURG, Oct 2 (Reuters) - Iran made major imports of Argentine soyoil 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.
Iran imported 202,000 tonnes of soyoil 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 tonnes is believed to have been imported from Argentina, 59,000 tonnes from Brazil and 14,000 tonnes from Paraguay, Oil World said.
Western sanctions imposed on Iran because of its disputed nuclear programme 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 tonnes of soybeans in June/Sept. 2012, the bulk of it from Argentina, it said. “This volume compares to only 68,000 tonnes 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 sunoil imports to 154,000 tonnes from only 75,000 tonnes in April-June 2012, Oil World estimates.
Ukraine supplied 140,000 tonnes of the July-Sept. sunoil imports, Argentina 10,000 tonnes with the rest mainly coming from Russia, Oil World said.
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