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Amvac sales down 21% in Q2

Surplus US inventories of maize insecticides and herbicides resulted in American Vanguard's sales falling by 21.3% to $68.3 million in the second quarter of 2014. Net income plunged by 98.3% from the same period last year to just $145,000. The company warned of the expected results due to high stock levels remaining in the distribution channel from the previous season and significantly lower restocking from manufacturers (Agrow No 693, p 11).

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