Sales of Syngenta's agrochemical business up 3% in Q3
By CnAgri2012-10-25 19:10:16
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Syngenta’s crop protection sales rose by 2.7% to $2,130 million in the third quarter of 2012 ended September 30th driven by an excellent performance in Latin America. Sales were up 7% at constant exchange rates (CER). Seeds business was $442 million, up by 2.1%. Total sales, including crop protection, seed, lawn and garden business, were up by 1.3% to $2,698 million. Nine-month crop protection sales of 2012 went up 4.6% to $7,804 million. Group sales in the first nine months grew by 5.8% to a record $10,963 million, with volume up 6% and prices up 3%.
Third quarter regional sales
Total integrated sales increased by 7% at constant exchange rates. In Latin America, a strong start to the season drove sales growth of 18%, with expansion across all product lines. High soybean prices are leading to acreage expansion and increased investment by soybean growers in Brazil and Argentina.
Sales of crop protection for sugar cane doubled as a result of rapid technology adoption. In Asia Pacific, sales increased 3%. Significant growth in Corn seeds, notably in South East Asia, demonstrates the continuing momentum of an enhanced corn portfolio. Vegetables seeds showed a marked recovery with double digit growth. Crop protection sales were lower in Japan and also in India, owing to a delayed monsoon; expanding seed care use across the region was reflected in sales growth of more than 50%.
In Europe, Africa and the Middle East, the success of the integrated hybrid barley product offer drove sales particularly in Germany and Northern Europe.
Eastern Europe maintained its record of broad-based growth, with sales in the CIS up by almost 20%. Overall crop protection sales in the low season were unchanged after a strong first half, with significant growth in fungicides offsetting lower herbicide and insecticide sales. In North America, crop protection sales were broadly unchanged despite a reduction in fungicide applications due to drought and a shift in selective herbicides phasing to the fourth quarter. Non-selective herbicides and seed care grew strongly; in addition, sales of FORCE® tripled with increasing grower awareness of resistance to a competitor’s corn rootworm trait.
Third quarter product line sales
Growth in Selective herbicides in Latin America largely offset lower sales in Europe and in North America. Non-selective herbicides sales increased 13% reflecting strong demand in Latin America and an increase in REGLONE® sales in Canada.
Fungicides in Europe were driven by AMISTAR® and by the new product REVUS®. This, together with growth in Latin America, more than offset the impact of drought in North America.
Insecticides sales reflected strong performances by DURIVO® in all regions, ACTARA® in Latin America and FORCE® in the USA.
In Seed care, increasing recognition of the yield and vigor benefits offered by CRUISER® was reflected in sales growth of over 30%; adoption of AVICTA® against nematodes accelerated.
Growth in Corn and soybean sales was driven by Latin America and by Asia Pacific, where new corn hybrids were introduced in Indonesia and the trait offer in the Philippines expanded. This is more than offset end-of-season adjustments in North America and Europe. Diverse field crops sales, which include hybrid barley seeds, were up by 35%. Vegetables sales continue to be affected by weak consumer demand in southern Europe and North America, but grew strongly in Latin America and Asia Pacific.
