October 15, 2020


Argentina's Labour Ministry ends soy workers strike


Argentina's Labour Ministry ended a Federation of Oilseeds Workers strike that had stopped soy processing at Cargill, Bunge, Glencore, and Dreyfus plants, Reuters reported.


According to the union, the Labour Ministry told the workers to return to work as the government is prepared to discuss with company and workers' representatives on October 20.


The strike affected some part of the country's key grains hub of Rosario. The Argentine government usually ends strikes and forces negotiations when it involves important sectors.


Argentina is the biggest exporter of soymeal livestock feed in the world.


While the Argentine government announced export tax cuts to increase soybean sales as the country desperately needs export dollars to recover from a recession and debt crunch, soy farmers have instead continued to hoard the crop because of foreign exchange uncertainty.


There is a 117% difference between official and black market exchange rates, meaning farmers who are paid at official rates will lose out because they pay their expenses on the black market.


-      Reuters

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