Syngenta corn seed sales increased significantly in the United States in both the branded and Greenleaf Genetics business, the company announces.
But despite sales rising by 2 percent at constant exchange rates to $10.3 billion for the first nine months of 2015, Syngenta crop protection sales were down, “reflecting the deliberate reduction in glyphosate and the phasing of selective herbicide sales linked to the introduction of Acuron,” according to the company.
Low commodity prices affected fungicide applications for crop enhancement. A strong performance in corn seeds was partly offset by a competitive soybean market with lower than expected acreage.
This was more than offset by a decline in soybean seed sales mainly due to the new Integrated Business Partner model in Brazil, which shifts sales to the distributor level but raises profitability. Diverse field crops sales were lower, with sunflower reductions in a number of markets. Vegetables were up 4 percent, with growth in all regions except Asia Pacific.
“In the third quarter Latin America has been further affected by currency volatility in Brazil and by tight credit conditions. Although this means that performance in the region is unlikely to meet our original expectations for 2015, we are maintaining our market-leading position as well as our tight focus on risk management,” says Syngenta CEO Mike Mack.
More information is available here: http://www.syngenta.com/global/corporate/en/news-center/news-releases/Pages/151015.aspx
