Strike in Argentina Halts Soybean Industry Shipments

A strike initiated by Argentine oilseed industry workers has brought the shipment of products from local ports with soybean processing facilities to a standstill, as reported by the country's Chamber of Ports and Maritime Activities (CAPyM) on Wednesday.

Argentina stands as one of the world's leading suppliers of processed soybeans, which are widely used across various sectors, from food products to biodiesel.

The strike commenced on Tuesday, led by two sector unions after failed negotiations with industry companies, demanding better wages amidst soaring inflation.

Guillermo Wade, director of CAPyM, told Reuters that ports not affiliated with the oilseed federation union — one of the entities on strike — continue to operate normally, while others have ceased operations.

Only two ports among the country's major agricultural shipping hubs, located north of the city of Rosario on the Paraná River, do not host soybean crushing plants. One is owned by the global commodity giant Archer Daniels Midland, and the other by the local company ACA.

More than 80% of Argentina's grain and derivative exports are shipped from ports located north of Rosario, including those operated by major grain traders such as Cargill and Bunge.