Argentine soy-crushing workers reached a deal with management on Friday, a day after the government called an end to a brief strike in the country’s key grains hub.
A union representing the workers called a work stoppage on
Wednesday, threatening to stall operations at ports in and
around the central city of Rosario, where most of Argentina’s
agricultural products are loaded for export.
Argentina is the world’s top soyoil and meal supplier, as
well as a leading supplier of uncrushed beans.
The strike lasted about a day before the Labor Ministry
ordered them back to work while talks were held.
In the early hours of Friday they reached a deal to include
third-party workers in collective bargaining agreements.
«The negotiations turned out well,» union official Daniel
Succi told Reuters. «And we have a new appointment set for Nov.
15 to talk about salaries.»
The sticky subject of year-end bonuses will be part of
those talks.
Strikes are common in Argentina, where unions ask for pay
packages to help workers keep up with the country’s galloping
inflation rate. Consumer prices are rising at an annual rate of
more than 20 percent, according to private economists.
On Thursday, industry sources said the work stoppage disrupted some exporters’ attempts to load grains and byproducts at several ports in the Rosario area.Argentina’s center-left government has recently acted quickly to halt strikes in the vital grains export industry and
one grains company executive said falling central bank reserves
meant officials were especially keen to avert labor unrest.
Soy products account for about a quarter of the country’s
total export earnings.
As concern mounts about the world economy, capital flight
is a worry for Argentina. Over the last week it has introduced
a series of measures aimed at boosting dollar supplies while
discouraging demand.
Grains exporters Cargill, Bunge , Molinos
Rio de la Plata , Vicentin, ACA, Noble and
Louis Dreyfus operate in Rosario.
Source: Reuters