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Nutrien to sell retail assets in Argentina, Chile and Uruguay

April 12 (Reuters) - Nutrien Ltd, the world's largest producer of potash fertilizer, said on Friday it has put its retail assets in Argentina, Chile and Uruguay for sale to focus on Brazil and other markets globally.

The move is part of Nutrien's plan to simplify its business and focus on key markets that can drive growth and shareholder returns, according to an emailed statement from the company.

Reuters had reported last month that Nutrien was considering a divestiture in South America, replacing management and halting an acquisition spree in Brazil after steep losses in the region.

The job cuts and potential asset sales stem from the challenges Nutrien faced cracking the farm retail market in Brazil, where it introduced a unique business model.


Fertilizer companies have struggled with market volatility globally since Russia's invasion of Ukraine sent prices skyrocketing in 2022 only to collapse the following year as farmers held off on purchases and global supplies stabilized.

Nutrien recognized a $465 million impairment last year related to its South American acquisitions, which Morningstar analyst Seth Goldstein had said was due to the lower value of its fertilizer inventory.

(Reporting by Roshia Sabu in Bengaluru; Editing by Alan Barona)