US agritrader Bunge is planning to close down a soyabean crushing plant at the Port of Ramallo in the province of Buenos Aires, Argentina.

Bunge had not officially confirmed the closure, but the Workers’ Federation of the Industrial Oilseed Complex, representing employees at Argentine soya plants, said the Ramallo plant’s 60 employees had been informed of an impending termination of their jobs, wrote Reuters on 25 July.

The workers’ union was planning to protest the plant’s shuttering with a strike that could influence different port areas in Argentina.

Bunge, which has been focusing on its core business areas to improve profitability after several poor quarterly results, operated six industrial port complexes in Argentina.

Grain traders had been struggling in recent years due to global oversupply of basic agri commodities, such as soyabean, corn and wheat, said Reuters.