Not even some of the toughest drought conditions on record have left Canadian agribusiness giant, Nutrien, feeling uneasy about the performance of its Australian operations.
"I'd say it's surpassing expectations at the moment," said Nutrien's global interim president, Ken Seitz.
Nutrien Ag Solutions in Australia was "punching above its weight" as a somewhat "unique and important stakeholder" in the global company's network.
"We've invested heavily in this part of the world - more than $2 billion - so it's very pleasing to see how Australia has performed, particularly during the past two years of good commodity prices and moisture conditions and big yields," said Mr Seitz while touring eastern Australia.
His first-time Australian foray included branch visits in southern Queensland, NSW, Victoria and Tasmania; on-farm meetings with Nutrien customers; a shearing shed visit, plus time with National Farmers Federation officials and others at NFF's national convention.
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Nutrien Ag Solutions was the name adopted by the re-branded Landmark farm services business after its 2019 merger with rival, Ruralco.
Despite the restructure and merger challenges and costs, Nutrien's Australian earnings have since risen 108 per cent.
Its business footprint in rural Australia is now about 42pc bigger than under the Landmark banner, with a portfolio spanning livestock and property marketing, water broking, water equipment sales and infrastructure planning, insurance, financial services, soil testing, yield mapping and wool marketing.
Recruiting spree
As post-drought seasonal conditions blossomed in 2020 and 2021 and demand for Nutrien's services increased, the company added an extra 800 staff to its ranks last year, with almost half of those roles filled by women.
Its total payroll today exceeds 4000 staff in 700 locations Australia-wide.
We know there are ups and downs in agriculture, particularly in Australia, but nature is a long term business and we take a long term view
- Ken Seitz, Nutrien
"We're quite excited about how the merger has turned out - it's going very well," Mr Seitz said.
"We know there are ups and downs in agriculture, particularly in Australia, but nature is a long term business and we take a long term view of what's needed in this industry."
He said while the Australian business offered a more diverse service than its crop inputs focused divisions in North and South America, the local model had helped it weather the tough seasons, providing "a lot of learnings to share" to operations in the US, Canada, Brazil, Argentina, Chile and Uruguay.
Big bets on Aussie ag
Nutrien had many reasons to be optimistic about this marketplace and was "betting big on Australian agriculture".
"Australian agriculture has the same aspirations for growth and shares the same values as our business globally," he said.
"We are very proud of the role we play in the Australian economy and are committed to helping this industry grow and prosper."
Globally Nutrien's wholesale fertiliser and crop protection business and retail inputs activities, including its Australian portfolio, generated about $3.4 billion in net earnings, from cash flow of $4.1b during 2021.
It employs about 23,000 people.
The Australian network became part of the Canadian agribusiness powerhouse in 2010 when Landmark's then owner, AWB, sold it to Nutrien's predecessor, Agrium, for $1.2b.
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Andrew Marshall
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
Andrew Marshall is the group agribusiness writer for ACM's state agricultural weeklies and websites. He is a former editor at The Land and has worked in various Rural Press group roles in Canberra, North Richmond (NSW) and Toowoomba (Qld).
