Canadian Nutrien Ltd. plans to sell its retail operations in Argentina, Chile and Uruguay, seeking to refocus on Brazil and other strategic markets around the world, as reported by Bloomberg News.
The company, which has been operating in South America for more than 25 years, is seeking to recover from a significant deviation from profit expectations in the last three months of 2023. During this period, Nutrien faced a sharp drop in fertilizer prices, impacting negatively impact the results of its retail operations.
According to information from Bloomberg, a company spokesperson highlighted that the prioritization of key markets aims to enhance returns for investors. This strategic decision comes at a time when Argentina's new president, Javier Milei, promises to eliminate current exchange controls, as part of his efforts to deregulate the country's economy.
To date, Nutrien has not publicly defined its plans for a 50% stake in Profertil SA, a urea and ammonia manufacturing joint venture with YPF SA, an Argentine state oil company. YPF seeks to sell assets to focus on shale drilling.
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At the fair, visitors notice the significant development of equipment aimed at mechanized planting and harvesting in increasingly steep and rugged areas, relief features that are very common in the topography of Paraná
