The American Soybean Association (ASA) is welcoming news of a possible deal worked out to end a labor strike that was wreaking havoc on soybean exports from the U.S. west coast. The group says the reported deal worked out between the Pacific Maritime Association (PMA) and International Longshore and Warehouse Union (ILWU) will resume operations at ports along the west coast.
“As business owners, soybean farmers count on a smoothly-operating supply chain to stay competitive. The work stoppage on the west coast is something that continues to have ripple effects not only on soybean farms, but within the processing industry, and especially in the livestock industry that represents the top consumer of soybean meal,” said [ASA President Wade] Cowan.
In the 2014/2015 crop marketing year, U.S. farmers exported 1.77 billion bushels of soybeans, making soy the country’s leading farm export. Soybean meal is also a key feedstock for the livestock and meat export industry, which was disproportionately affected by the stoppage.
“Soybean farmers are proud of the role we play in the nation’s agricultural trade, and proud to be a leader on these issues,” added Cowan. “Disruptions like the one we saw out west have the potential to throw the country’s farm economy into disarray. A devastating impact like that isn’t a bargaining chip. It goes without saying that we are relieved to see a resolution to the dispute, and we encourage both parties to ratify this new contract and get back to work as quickly as possible.”