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Nufarm settles supplier dispute

Nufarm has settled a long-running dispute over payment with an unnamed major supplier, which is understood to be Monsanto. The settlement will recover Aus$13.5 million (US$14.3 million) against the disputed receivable’s value, which was written down at Aus$25 million (US$26.4 million at the current rate) in June ( Agrow No 618, p 2). The total write-down associated with the unrecovered portion of the receivable will be treated as a material item in Nufarm’s fiscal 2011 accounts and will have the impact of reducing net profit by Aus$28 million (US$29.6 million), it points out.


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