Soybean meal production and exports have been at a standstill since workers at soybean crushing plants and at terminals in the Rosario export region commenced a strike on December 9th,
The organization representing soybean crushers has conceded both on wages and COVID-bonuses. The Chamber offered to increase salaries by 35 percent over 2020 levels and provide each worker with a bonus of $840 to compensate for the risk of contracting COVID.
There has been no response from organizers of either of the unions representing workers at crushing plants or grain inspectors. Currently, more than 100 vessels are idled on the Parana River impacting the major grain traders, including Cargill, Bunge, Dreyfus, and Cofco. The strike has resulted in a marked escalation in the price of soybeans and soybean meal, affecting domestic U.S. producers. It is hoped that normal operations in Argentina will soon be restored, moderating commodity prices.