Argentine Oilseed Workers Strike Threatens Grain Exports

An ongoing oilseed workers strike in Argentina may extend beyond Friday due to stalled wage negotiations, affecting global grain shipments. At least 36 vessels have been delayed near the key port of Rosario. Workers demand wage increases to keep up with high inflation rates.

An ongoing oilseed workers strike in Argentina could extend beyond Friday, as wage negotiations with firms continue to stall, affecting shipments from one of the world's major grain exporters. At least 36 ships loaded with grains remained delayed on Friday near the key agricultural port of Rosario, according to an industry spokesperson and unions.

Two industrial unions kicked off the strike early on Tuesday as workers demand that salaries stay ahead of high inflation. "So far we have no news, we have no proposals of any kind," Daniel Succi, leader of the San Lorenzo Department Oilseed Workers and Employees Union (SOEA) told Reuters.

Another SOEA source said that "the conflict is set until 5 AM (0800 GMT) tomorrow for the moment, but it could be extended if there is no call to open a dialogue." The strike mainly affects terminals located north of Rosario along the Parana River, where more than 80% of Argentina's agricultural and agro-industrial exports are shipped.

While the rate of rising consumer prices has slowed since President Javier Milei took office in December, accumulated inflation in the first half of this year still stood at 79%, official figures showed. Yearly inflation stands at 271.5%. "The situation remains unchanged and there are approximately 36 vessels delayed," said Guillermo Wade, head of the Ports and Maritime Activities Chamber (CAPyM).