Adama posts 10 decline in Q1 agchem sales

摘要

Syngenta Group agrochemical subsidiary Adama’s firstquarter agrochemical sales fell 9.8% to $1,146 million.Total sales were down by 11.3% at $1,259 million.The company reports a more modest decline in total revenues of some 7% at constant exchange rates(CER).Outgoing Adama president and CEO Ignacio Dominguez notes that supply constraints and rising prices led to crop protection product inventory build-up.”While market demand is being supplied by the stockpiles of product in the channel,the high inventory levels and declining raw material pricing are also supporting a’wait and see’approach.”