Agrochemical major UPL shed over 8.5 per cent on Thursday, and has lost about 13 per cent in the last two trading sessions. The pressure on the stock because of concerns over lower exports to Latin America due to trade tensions between the US and China, as well as events such as the spread of African swine fever (AFS) which could impact soybean demand in China.
UPL is a global player that derives more than a third of its revenues from Latin America; India, Europe, North America and the rest of the world contribute 14-18 per cent each to its revenues. The company’s Brazilian sales ...
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