Corteva Q1 agchem sales up 5

摘要

Corteva Agriscience’s crop protection sales rose by 5.4% to $2,189 million in the first quarter of 2023. On an organic basis, sales grew by some 10%. The sales increase was driven by an 11% increase in prices and a boost from an improved mix, partially offset by a 5% unfavourable currency impact and a 1% decline in volumes, including the impact of withdrawn products. Inflation boosted prices and raised costs. Broad-based higher prices reflected higher raw material and logistics costs, Corteva notes. Continued penetration of new products, including Enlist (2,4-D choline + glyphosate) and halauxifenmethyl (trade-marked as Arylex) herbicides, was more than offset by delays in the Latin America and Asia Pacific agriculture seasons due to unfavourable weather conditions and product exits. Negative currency impacts were led by the Turkish lira and the euro.