May 14, 2008

Ports in Argentina running out of grains for export

Argentina's grain exporters only have enough grain to keep loading ships for another week if the farm strike continues, according to analysts.

"According to information received, stocks in the local ports are just enough to cover shipments for one more week," Roagro analyst Pedro Amuchastegui said in email comment Tuesday.

Farmers announced a strike of at least eight days last Wednesday, after a month of fruitless talks with the government over a tax hike on soy exports.

The strikers are focusing on shutting down grain exports with about 200 roadblocks across the country to prevent delivery to grain processing and export complexes.

Just two trucks loaded with grain made it to port Tuesday, compared with over 5,000 on the same date last year, according to the Rosario Grain Exchange.

Argentina's grain exchanges have been shut down since May 8 due to the strike.

Farmers are set to meet Thursday to decide if they will continue the blockades.