Nutrien Ltd., the world’s largest maker of fertilizers, said it is seeking to sell its retail operations in Argentina (and Chile and Uruguay) in order to focus on Brazil and other global markets.Its exit from the Argentine retail business comes as the country seeks to cheapen the herbicide and fertilizer market for farmers by reducing import taxes on both inputs. The company said that Argentina’s currency controls meant it lost money when it transferred currency out of the country because it had to use a more expensive exchange rate.
April 12, 2024
SOURCE: BNN BLOOMBERG
MORE COVERAGE:
https://www.bnnbloomberg.ca/world-s-top-fertilizer-maker-plans-exit-from-argentina-chile-1.2058596