Argentina oilseed workers' strike nears one-week mark

BUENOS AIRES (Reuters) - An oilseed workers' strike in Argentina is set to carry on into its seventh day on Monday as wage negotiations with firms remained stalled, affecting shipments from one of the world's major grain exporters.

"We will continue with the strike," Martin Morales, union secretary for the San Lorenzo Department Oilseed Workers and Employees Union (SOEA) told Reuters on Sunday. "Tomorrow we will evaluate again (whether or not to continue)."

Two industrial unions kicked off the strike last Tuesday as workers demanded that salaries stay ahead of high inflation.

Morales said that the companies affected had yet to reach out to the unions to negotiate.

The strike has mainly affected terminals located north of Rosario along the Parana River, where more than 80% of Argentina's agricultural and agro-industrial exports are shipped.

At least three dozen ships were still delayed on Sunday near Rosario, one of the most important agro-export hubs in the world.

In June, the federal government had forced SOEA to suspend a strike by calling it to mandatory reconciliation talks, forcing the union and firms back to the negotiating table.



Argentina is a major grains producer and is a top exporter of soybean oil and soybean meal.

The country's economy heavily relies on the foreign-exchange funds brought in by grains exports, as the government works to shore up scarce central bank reserves.

Source: Investing.com