You always have to read between the lines. For the last 2 years...

You always have to read between the lines. For the last 2 years in all NUF presentations they say that glyphosate products are under margin presure...read.... Monsanto are asking too much distribution fee for an old aggreement signed many years ago and the terms are from another era.

Round-up is old formulation that is long out of patent so the chinese are doing it cheaper. There is also weed resistance to round-up because it is old chemical so there is better product.

Nufarm can produce it cheaper and sell under a home brand but is held back by onerous distribution terms.

I think the market in the short term has got this wrong but nufarm has a bit of a trust problem with the market historically so only the results will placate it.

Nufarm has been working over the last few years to move away from dependence on the brand glyphosate market so this is a natural progression.