Elevated inventory levels expected to gradually subside with strong farmgate demand
Europe, Asia, and LATAM (ex-Brazil) channel inventory largely normalized
NAM and Brazil scenario continues to gradually improve
Expect to deliver better profitability in H2FY24 vs. H1FY24:
Seasonally higher sales, stable prices and favorable costing
SG&A optimization (on-track to reduce ~$100M over two years; FY24 savings of ~$50M to majorly accrue in H2FY24)
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