April 12 (Reuters) - Nutrien Ltd ( NTR ), the world's

largest producer of potash fertilizer, said on Friday it has put

its retail assets in Argentina, Chile and Uruguay for sale to

focus on Brazil and other markets globally.

The move is part of Nutrien's ( NTR ) plan to simplify its business

and focus on key markets that can drive growth and shareholder

returns, according to an emailed statement from the company.

Reuters had reported last month that Nutrien ( NTR ) was considering

a divestiture in South America, replacing management and halting

an acquisition spree in Brazil after steep losses in the region.

The job cuts and potential asset sales stem from the

challenges Nutrien ( NTR ) faced cracking the farm retail market in

Brazil, where it introduced a unique business model.

Fertilizer companies have struggled with market volatility

globally since Russia's invasion of Ukraine sent prices

skyrocketing in 2022 only to collapse the following year as

farmers held off on purchases and global supplies stabilized.

Nutrien ( NTR ) recognized a $465 million impairment last year

related to its South American acquisitions, which Morningstar

analyst Seth Goldstein had said was due to the lower value of

its fertilizer inventory.