Already a subscriber?Elders shares have plunged 24 per cent to $7.44 after the agribusiness group warned first-half trading was “significantly below expectations” due to bad weather, low cattle and sheep prices, and lower margins for agriculture chemicals.
El Nino is a climate pattern that describes the warming of the central and eastern tropical Pacific Ocean that leads to a major shift in weather patterns, and is associated with drier conditions in eastern Australia – and is generally bad news for farmers.
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