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    NTR   CA67077M1086

NUTRIEN LTD.

(NTR)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-11-28 pm EST
108.28 CAD   -1.71%
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Brazil fertilizer deliveries seen dropping 5%-7%, Anda says

10/05/2022 | 05:46pm EST

SAO PAULO, Oct 5 (Reuters) - Fertilizer deliveries to Brazilian farmers could fall between 5% and 7% this year, an executive at Brazilian trade group Anda said on Wednesday, citing figures from analysts and industry estimates.

Anda, which represents global suppliers including Nutrien and Mosaic, said farmers have delayed purchases or decided not to buy fertilizer this season amid a rise in prices sparked by Russia's invasion of Ukraine.

After the conflict began, Brazil hurried to secure supplies, as it depends on imports for 85% of its domestic use, pressuring ports and other logistics capabilities.

"We brought in more fertilizers than the farmer needed at that time," Ricardo Tortorella, Anda's executive director, said referring to the first half of 2022. "This clogged up ports, all of them are full until today."

Tortorella said potential unforeseen weather problems, uncertainty over Chinese demand for crops and the war in Ukraine

had also accounted for the weaker demand for fertilizer. Logistics bottlenecks at ports had not affected deliveries to farmers, he said.

"The grower's atypical stance is natural," he said. "The farmer has to calculate risks and do a lot of math."

Volatile fertilizer prices have somewhat abated, which could raise demand for fertilizers in the short term, Tortorella and an analyst said.

While the fear of global fertilizer shortages drove up imports in Brazil, it also changed the outlook for domestic production, which is slated to grow for the first time in 15 years, according to Tortorella.

Anda's latest data for fertilizer deliveries in July, released this week, had pointed to the possibility of a drop in deliveries this year.

Deliveries in July fell by almost 30%, with deliveries between January and July down nearly 9% to 21.7 million tonnes.

Still, a fall in deliveries will not compromise expectations for a bumper grain crop, Tortorella said. (Reporting by Ana Mano; editing by Richard Pullin )


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.36% 5.5674 Delayed Quote.-11.50%
NUTRIEN LTD. -1.71% 108.28 Delayed Quote.15.86%
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Analyst Recommendations on NUTRIEN LTD.
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Financials (USD)
Sales 2022 37 917 M - -
Net income 2022 7 383 M - -
Net Debt 2022 9 262 M - -
P/E ratio 2022 6,16x
Yield 2022 2,38%
Capitalization 41 882 M 41 882 M -
EV / Sales 2022 1,35x
EV / Sales 2023 1,38x
Nbr of Employees 23 500
Free-Float 100,0%
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Technical analysis trends NUTRIEN LTD.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 80,51 $
Average target price 99,21 $
Spread / Average Target 23,2%
EPS Revisions
Managers and Directors
Kenneth A. Seitz President, Chief Executive Officer & Director
Pedro Farah Chief Financial Officer & Executive Vice President
Russell K. Girling Chairman
Brent D. Poohkay Chief Information Officer & Executive VP
Michael R. Webb Chief Human Resources & Administrative Officer
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