Jun. 4, 2019
Nufarm has warned investors it could face litigation over its sales of glyphosate
, even though it says the widely used herbicide is safe to use as directed.
US agriculture giant Monsanto has in the last 10 months lost three multimillion-dollar jury verdicts to litigants who blame its Roundup herbicide gave them cancer.
It faces thousands of other lawsuits.
Since Monsanto's patent to Roundup expired in 2000, Nufarm has purchased glyphosate in bulk from other wholesalers to create its own weedkiller.
Nufarm noted in a disclosure to the ASX on Monday that "independent, science-based regulatory agencies around the world have comprehensively evaluated glyphosate-based herbicides and found them safe to use in accordance with label directions".
Nufarm said that it that "the science" showing glyphosate doesn't cause cancer will ultimately prevail, but says it is considering the risk of litigation "very carefully".
At 1518 AEST, shares in Nufarm were 4.6 per cent lower at $3.76.