🔴 LIVE: The Secrets of ProPicks AI Success Revealed + November’s List FREEWatch Now

UPDATE 1-Strike halts crushing operations in Argentina's grains hub

Published 2020-12-03, 08:08 p/m
© Reuters.

(Adds continuation of strike)

By Maximilian Heath

BUENOS AIRES, Dec 3 (Reuters) - Activity halted on Thursday at various grain-processing plants in Argentina's agro-industrial hub north of Rosario due to an open-ended union strike that began in the early hours of the morning, the head of the local CIARA crushers chamber said.

The SOEA oilseed workers union is striking over demands for bonus payments for working during the COVID-19 pandemic.

The labor group first said the work stoppage would be for 24 hours. Later on Thursday it said it would last beyond that, without stating an end date. The workers held a strike in October over the same issue, and talks with the companies since then have failed to break the deadlock. members will meet late Friday afternoon to decide their next step, the SOEA said in a statement.

Argentina is the top exporter of soyoil and meal, derived from soybeans grown on the country's fertile Pampas grains belt.

"The San Lorenzo (plants) are stopped," Gustavo Idígoras, president of CIARA, which represents major crushing companies, told Reuters. In Puerto General San Martín and Timbúes - the other towns that make up the agro-export hub - SOEA union workers were working part-time, he said.

"We insist on resuming dialogue and negotiation," Idigoras added. "We have already agreed to the salary increase until August of next year. The special COVID bonus that they are asking us (for) is impossible. We need to return to the table to close the agreement soon."

Commodity groups Cargill, COFCO International, Terminal 6, a joint venture between Bunge BG.N and the local AGD, and Argentina's Buyatti have crushing plants in San Lorenzo. Together they have a daily processing capacity of 35,500 tonnes, based on data from the Rosario grains exchange.

The agro-export center located about 50 kilometers (31.07 miles) north of Rosario concentrates about 80% of the agricultural and agro-industrial exports of Argentina.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.