Protests at key Argentina port a problem for exporters
[BUENOS AIRES] A spike in shipping costs and lower profits resulting from a series of union protests at Argentina's Rosario port, one of the world's biggest grain export centres, has raised concerns among the country's agricultural companies.
Strikes by powerful unions representing river pilots, longshoremen and soya crushing workers have been frequent at the port, about 300 kilometres north of Buenos Aires, where some of the world's top grain traders - such as Cargill, Bunge and Louis Dreyfus - operate.
Port reliability is key to the country, which relies heavily on farm export taxes to fund government spending, since the country has been locked out of international bond markets since its massive 2002 sovereign default.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
China's largest auto show displays all-electric future, local brands dominate
Toyota hits record annual output, sales on robust demand
Nissan, Mazda roll out new models for China as they aim for comeback
VinFast chief plans to invest US$1 billion more from his fortune in EV maker