Two Agriculture stocks – Nufarm and Graincorp
Positive progress on omega-3 canola: For H1FY17, Nufarm Limited (ASX: NUF) 15% yoy growth in revenue at $1.36 billion and posted 67% yoy surge in underlying net profit after tax to $19.8 million. The company remains on track to deliver improved earnings growth for the full year if normal seasonal conditions are experienced in the major cropping regions. However, it expects the global crop protection market to remain very competitive, with low soft commodity pricing prevailing due to the strong crop harvests in key regions. Further, Nuseed (wholly owned subsidiary) has completed preparation for regulatory approvals of its innovative long-chain omega-3 canola and filed in Australia, United States and Canada, while pending regulatory approvals, commercialization is expected to commence in 2018 or 2019. Importantly these regulatory milestones in all three countries gives the company both timing and location options as it commercializes canola based long-chain omega-3. Nuseed’s proprietary canola will provide long-chain omega-3 oils, similar to those found in fish oil, using a sustainable land-based source. It has been developed through collaboration between Nuseed, the Commonwealth Scientific and Industrial Research Organization (CSIRO) and the Grains Research and Development Corporation (GRDC).
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