Argentina's Oilseed Strike Enters Second Week Amid Stalled Wage Talks

An oilseed workers' strike in Argentina, which began last Tuesday, is entering its seventh day as wage negotiations with companies stalled. The strike has affected agricultural exports significantly, causing delays for dozens of ships in the Rosario area. No agreement has been reached to end the walkout.

The oilseed workers' strike in Argentina is poised to extend into its seventh consecutive day on Monday, with wage negotiations at an impasse. The ongoing strike has disrupted shipments significantly from one of the world's primary grain-exporting nations.

Martin Morales, the union secretary for the San Lorenzo Department Oilseed Workers and Employees Union (SOEA), stated on Sunday, "We will continue with the strike. Tomorrow we will evaluate again (whether or not to continue)." The strike was initiated by two industrial unions last Tuesday, demanding salary increases to outpace high inflation rates.

The disruption primarily affects terminals north of Rosario along the Parana River, where over 80% of Argentina's agricultural and agro-industrial exports are processed. On Sunday, at least three dozen ships faced delays near Rosario. This area is one of the most critical agro-export hubs globally.

In June, the federal government mandated SOEA to halt a similar strike by invoking mandatory reconciliation talks, which brought the union and companies back to the negotiating table. As a major grains producer and leading exporter of soybean oil and meal, Argentina's economy depends on foreign-exchange generated by these exports to bolster the nation's central bank reserves.

(With inputs from agencies.)