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RAIN CUTTING INPUT SALES

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Viterra has warned that problems planting this year’s crop will affect its bottom line due to reduced input sales. “Approximately eight million acres went unseeded, and additionally, about two million seeded acres were lost to excess rains,” the company said. Viterra said it expects industry sales to drop by 15 to 17 per cent in fiscal 2010. With Viterra’s market share of about 32 per cent of that industry, the company predicts every one per cent change in retail sales will impact its own earnings by about $2 million to $3 million.

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