Bunge Shutters Argentina Soy Crushing Plant
Global commodities giant Bunge is shuttering its soybean crushing plant and mill located in Ramallo in the province of Buenos Aires, Argentina. The decision will lead to the laying off of 60 employees.
Bunge is the world’s leading producer of soymeal and soy oil, and Argentina is the top producing country for these products, however, the company has made the move as part of its plan to focus on core activities and higher profitability following consecutive quarters of disappointing results.
Bunge informed its workforce through Argentina’s Workers’ Federation of Industrial Oilseed Complex, a union group representing workers in the country’s soybean crushing industry. In response, the union is planning to counter-protest the closure through calling a strike that could include a range of ports throughout the country.