Canadian Nutrien, one of the world leaders in the fertilizer market, has announced that it will leave operations in Argentina, Chile and Uruguay to give priority to Brazil.
“At Nutrien we are simplifying and focusing our business strategy, prioritizing key markets and opportunities that best align with our integrated model to drive growth and strengthen shareholder returns,” he began, explaining the short statement released by the company. multinational.
“In this context, for Nutrien’s global retail business, We have decided to divest from Argentina, Chile and Uruguay and focus on our retail business in Brazil and other markets around the world.“, they expanded. “We will continue to support all our customers and partners in this process,” they added.
The company produces 27 million tonnes of potash, nitrogen and phosphate products globally. I had been in Argentina since 1995 and in the region, including Chile and Uruguay, they were present in 370 locations.
promptly, In Argentina they were present in 130 locations and had 2 industrial plants.
Furthermore, it owns, in equal shares with YPF, the Profértil granulated urea factory.
As published by Reuters, Nutrien’s problems in South America come as fertilizer companies have struggled with global market volatility since Russia’s invasion of Ukraine caused prices to surge in 2022, only to collapse in 2022. following year as farmers postponed purchases and global supplies stabilized.
Last year, the agency added, Nutrien recognized a $465 million impairment charge related to its acquisitions in South America,
Source: Clarin
