Argentine soybean development consortium Bioceres’s (Rosario) crop “comparable” revenues rose by 48.4% in the fourth quarter of its fiscal 2021 ended June 30th to $42.9 million.Bioceres has introduced the term “comparable” to reflect a metric excluding the impact of IAS 29. The latter divides nominal Argentine pesos for domestic operations by the average foreign exchange rate of the currency against the US dollar over the period. The peso has suffered volatility. The company also gives “reported” results with IAS 29. Reported crop protection sales were up by over 81% to $48.1 million. The segment does not include seed treatment business.
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