Amvac sales up 2% in Q2 despite weather impact
Strong sales of herbicides and fungicides boosted American Vanguard's sales by 2.3% to $86.8 million in the second quarter of 2013. A doubling of sales of the company's post-emergence maize herbicide, Impact (BASF's topramezone), contributed to a near tripling of herbicide sales during the quarter. However, overall revenue growth was held back by adverse US weather conditions, which delayed planting and caused some growers to switch from maize and cotton to soybeans. Sales were also restricted by conservative buying patterns towards the end of the quarter due to increasing inventory levels, Amvac notes. The company warned in June that second-quarter sales would be lower than forecast (Agrow No 667, p 4).