Resolution at Quequen: Argentine Truckers End Port Paralysis

Argentine truckers have called off a protest at the Quequen grain port after reaching an agreement with farmers for a 16% increase in freight rates, according to the port authority on Friday.

Operations at the port, which had been severely disrupted, are now returning to normal, a port official told Reuters. As part of the agreement, truckers succeeded in their demand to limit administrative fees imposed by grain collectors and cargo providers to 2%.

The trucker association ATCADE confirmed the agreement, stating that drivers, who had blocked access roads in a bid for higher compensation to cover rising costs, were satisfied with the outcome. The blockade affected about 20% of Argentina's soybean exports. The Argentine Chamber of Private Commercial Ports noted that prior protests had stalled exports valued at around $450 million. Argentina stands as the world's third-largest soybean exporter and the top exporter of processed soy meal and oil.

(With inputs from agencies.)