|
According to Reuters up to 100 cargo vessels are awaiting loading in the major port complex of Rosario in Argentina. The location is responsible for 80 percent of Argentine farm exports. The strike, which commenced on December 9th, involves members of the Argentine Oilseed Workers Federation, the Urgara Union representing grain inspectors and the SOEA Soy Crushers Union.
Union representatives and the owners of soy-crushing plants and the Port Administration are deadlocked and there is no immediate prospect of resuming activities from crushing through loading vessels. Kunless settled before 2021 the strike will have consequences for the economy of Argentina and importing nations reliant on corn, soybeans and soybean meal. Recent escalation in the price of soybeans and hence meal on the CME is in part due to the strike.
|
Vessels await berths at Port of Rossario, Argentina |