By Alice McFarlane

Agriculture Roundup for Thursday, February 22, 2024

Feb 22, 2024 | 12:18 PM

Fertilizer giant Nutrien reported earnings of $176 million, or 35 cents per diluted share in the fourth quarter of 2023. That’s down from $1.12 billion in the same period of 2022.

The Saskatoon-based company, which reports in U.S. dollars, said its fourth-quarter results include a $76-million non-cash impairment charge related to a new natural gas contract and higher natural gas costs at its nitrogen plant in Trinidad.

For the full year 2023, Nutrien reported net earnings of $1.3 billion and adjusted earnings of $6.1 billion, down from the record levels achieved in 2022, when global fertilizer prices skyrocketed in the wake of Russia’s invasion of Ukraine.

Nutrien’s lower 2023 earnings reflect lower selling prices across all its business segments but added it benefited from improved fertilizer affordability in the fourth quarter, which boosted potash demand in North America and overseas and helped the company achieve record fourth-quarter potash sales volumes.

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The Canadian pork Council (CPC) celebrated the launch of the Indo-Pacific Agriculture and Agri-Food Canada office in Manila, Philippines.

The opening came at the midway point of Federal Agriculture Minister Lawrence MacAulay’s trade.

CPC Chair Rene Roy said the office is a pivotal moment for Canadian pork producers providing enhanced access to markets and facilitating trade relationships in the Indo-Pacific region.

“We’re in Manila with the minister because the establishment of the Indo-Pacific Agriculture and Agri-Food Canada office marks a significant milestone for the Canadian pork industry,” Roy said. “This initiative reflects our commitment to strengthening global partnerships and expanding market access for Canadian pork producers.

Roy added that by working with their partners in the Indo-Pacific region, Canada can showcase the high quality and sustainability of the country’s pork while meeting the growing demand for safe and nutritious food products.

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Syngenta and Lavie Bio are joining together to develop new biological insecticides.

Crop Protection Global Head of Research Camilla Corsi said the collaboration with Lavie Bio will bring novel modes of action in the growers’ toolbox to combat insect resistance.

“This collaboration underscores Syngenta’s commitment to collaborating with cutting-edge agricultural technology companies, merging digital and experimental approaches to accelerate and diversify innovation,” Corsi said.

Lavie Bio CEO Amit Noam said both companies share a mutual commitment to sustainable farming and aim to develop an impactful bio-insecticide product.

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alice.mcfarlane@pattisonmedia.com

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