World’s top fertilizer maker cuts production as B.C. port strike drags on
The world’s biggest fertilizer producer Nutrien Ltd cut production on Tuesday, citing the impact of an 12-day-old strike inSome 7,500 dock workers represented by the International Longshore and Warehouse Union walked off on July 1 after failing to agree a new wage deal with the British Columbia Maritime Employers Association .
The union says the BCMEA is refusing to give a fair pay increase despite making billions of dollars in profits in recent years. The association says it is negotiating in good faith while blaming the strike for damaging trade and the economy.The strike has upended operations at two of Canada’s three busiest ports, the Port of Vancouver and the Port of Prince Rupert – key gateways for exporting the country’s natural resources and commodities and bringing in raw materials.
The strike could trigger more supply-chain disruptions and fuel inflation, economists have warned, just as the central bank is trying to cool the economy. The Bank of Canada raised its key interest rate on Wednesday by 25 basis points to five per cent.More than half of Canadian small business owners say the strike at the Port of Vancouver will affect their operations, according to preliminary survey results from the Canadian Federation of Independent Business released on Tuesday.
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