Nufarm hopes to close the next fiscal year, ending August 31, 2017, with growth in its Latin American sector.
The company expects to obtain an advance on 2% to 3% of sales in the region, in Australian dollars. "We will have strong results," said the president of Nufarm for Latin America, Marcos Gaio.
According to the executive based in Brazil, which leads sales for the company in the region, 8% growth in the Brazilian real has been forecast. For the 2016/17 period, Gaio believes a new growth cycle will kick off, thanks to investments the company has made to add innovation to and expand its portfolio.
The optimism of Nufarm's president for Latin America is linked to the behavior of the grain market. "The prices of corn and soybeans are spectacular, and there is credit for the producer. Besides, we are coming out of four years of bad weather. It is not possible to have a fifth," emphasized Gaio.
In the Brazilian market, according to the executive, Nufarm will launch innovative products such as the Zetha Maxx® herbicide, which is currently under registration analysis by government agencies. The company will also invest to increase its presence in the market for biological products.
"Zetha Maxx® will be a cutting-edge solution for the protection of kidney beans and soybeans against weeds, including weeds resistant to glyphosate. It is an exclusive formulation, based on the active ingredients flumioxazin and imazethapyr. This technology will add varying results," noted Gilberto Schiavinato, marketing director of Nufarm for Latin America.
Schiavinato pointed out that the biological insecticides market was a strategic target for Nufarm in Brazil. The director stated that the global market for agricultural biological products should move some US$10 billion and grow at a rate of 14% per year until 2020. He also revealed that this year, Nufarm will launch its second product for the Brazilian market under the brand Xentari.
In the fiscal year ended July 2015, Nufarm earned US$2.07 billion in sales revenue, with Latin America accounting for 27% of this amount.