Argentina oilseed workers strike enters seventh day after wage talks break down
Negotiations between Argentine oilseed workers unions and management have broken down, and the strike is now entering its seventh day.
The strike has disrupted global soybean exports and is adding to inflationary pressures in Argentina.
BUENOS AIRES, Aug 16 (Reuters) - An oilseed workers strike in Argentina is set to continue into its seventh day on Tuesday after wage talks between unions and management broke down, union sources and industry officials said.
The strike, which began on Aug. 10, has halted grain exports and has so far cost the country an estimated $1 billion in lost revenue. It has also added to inflationary pressures in Argentina, which is already struggling with high inflation.
The unions are demanding a 35% wage increase, while management has offered a 17% increase. The two sides met for talks on Monday, but no agreement was reached.
"The strike will continue until our demands are met," said Juan Carlos Bacigalupe, head of the Argentine Oilseed Workers Union (SOEA).
The oilseed workers strike is the latest in a series of strikes that have hit Argentina in recent months. The country is grappling with high inflation, a weak currency and a recession.
The strike has also disrupted global soybean exports. Argentina is the world's third-largest soybean exporter, and the strike has caused a sharp drop in shipments.
The global soybean market is already tight, and the strike in Argentina has only added to the pressure. Soybean prices have risen in recent weeks, and the strike is likely to keep prices elevated.
The strike is also a blow to the Argentine economy. The country is heavily dependent on soybean exports, and the strike is costing the country millions of dollars in lost revenue.
The government has urged the two sides to reach a deal and end the strike. However, the talks have so far been unsuccessful, and the strike is now entering its seventh day.
There is no clear end in sight to the strike, and it is unclear how long it will continue. The strike is likely to continue to disrupt global soybean exports and add to inflationary pressures in Argentina.
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