FMC sets $1billion goal in Brazil
FMC is the latest company to boast its optimism of rising sales for its pesticides in Brazil. The company seeks to more than double its national sales to top $1,000 million by 2014, Brazilian business newswire Valor Economico reports. Sales last year reached $411 million. FMC wants to switch its attention towards more dominant Brazilian crops such as soybeans, it told Valor. Sugar cane and cotton products made up 80% of its Brazilian revenues last year. By 2014, their share of its sales will have fallen to 20% each, while that for major crops will have risen to 40%, it predicts. FMC finance director Gilberto Mattos Antoniazzi notes widespread optimism. “[Market analysts] may get the degree of growth wrong, but none expects a decline,” he says. Brazil boosted FMC’s first-quarter results ( Agrow No 591, p 6).