Nufarm loses Roundup distribution rights AGRICULTURAL chemicals supplier Nufarm will develop its own glyphosate-based weedkillers after losing the right to distribute the Roundup brand. Nufarm has held the right to distribute glyphosate under the Roundup brand, owned by global agricultural biotechnology firm Monsanto, in Australia and New Zealand since 2002. But Monsanto terminated the agreement today, sending Nufarm's shares plunging by 12 per cent to close at a 14-month low of $4.85. Nufarm will stop selling glyphosate under the Roundup brand after August 28. Managing director Doug Rathbone said the glyphosate market had become increasingly competitive and was generating less value for suppliers in the Australian market. "The brand premium attached to Roundup has consequently been eroded," he said in a statement. We will now focus our ongoing investment in glyphosate on Nufarm's own brands where we can build long-term value on a more secure basis and ensure our cost competitiveness. Monsanto said it had ended the deal with Nufarm following changes in the market. "Monsanto will name a new distributor for Australia and New Zealand in the near future and Roundup product sales will continue without disruption in the marketplace," Monsanto said. Nufarm's glyphosate sales under the Roundup brand in Australia and New Zealand were worth about $100 million in fiscal 2012. The company said its cost position would improve after the end of the agreement with Monsanto and expects to maintain a strong presence in the glyphosate market. Consequently, the end of the agreement with Monsanto was not expected to have a major effect on Nufarm's earnings. Nufarm makes about half of the glyphosate sales in Australia. About 60 per cent of those sales were under the Roundup brand.