Argentina truckers end protest at Quequen grain port

BUENOS AIRES — Argentine truckers ended a protest that had paralyzed the Quequen grain port after reaching an agreement with farmers for a 16% freight rate increase, the port authority said.

Activity at the terminal began to normalize following the end of the costly protest, a port source told Reuters.

As part of the deal, truckers were successful in their demand to cap administrative fees charged by grain collectors and cargo providers at 2%.

Trucker association ATCADE also confirmed the deal to Reuters.

The drivers, who had been seeking higher rates to offset costs, had blocked access roads to the hub, which handles about 20% of Argentina’s soybean exports.

The Argentine Chamber of Private Commercial Ports said earlier this week that the protests, which also affected the port of Bahia Blanca, had stalled exports worth approximately $450 million.

Argentina is the world’s third-largest exporter of soybeans and the top global supplier of processed soy meal and oil. — Reuters