Nufarm To Diversify Glyphosate, Add Sorghum

MELBOURNE, Australia — Following a US $51.7 million loss in the six month period leading up to Jan.1, mostly based on falling global glyphosate prices, crop protection chemicals supplier Nufarm Australia says that it will diversify its range of glyphosate products, according to Trading Room. In its mission to avoid falling victim to big losses coming from an oversupplied and underpriced glyphosate market, Nufarm — which currently sells glyphosate under the Roundup label — plans for more product differentiation within its glyphosate portfolio.

“We’ve started to develop a big focus on differentiating inside the glyphosate portfolio,” Nufarm Group General Manager of Agriculture, Brian Benson, told analysts in a briefing on March 30. “Going forward to really have a good margin position in glyphosate, you’re going to have a differentiated portfolio … The margin difference in these products is quite significant.”

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The company is also increasing its involvement in sorghum seeds, having recently completed the acquisition of Sunchales, Argentina-based seed breeder and producer, Druetto Criadero y Semillero. Druetto is a large supplier of sorghum genetics in South America. In 2009, Nufarm acquired Richardson Seeds and MMR Genetics, both based in Texas, US. Benson told the analysts at the briefing that sorghum, which can produce the same bio-mass as corn but with 40% less moisture, was becoming an important forage and food crop for both livestock and people.

On March 2, Nufarm shareholders approved Japan’s Sumitomo Chemical Company’s acquisition of up to 20% of Nufarm shares at $14 per share. Nufarm said that it had so far received acceptances of 25.25% of all Nufarm shares.

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