Aceto agchem sales down 46% in Q3
The US company, Aceto (Port Washington, New York), recorded a 45.5% drop in agrochemical sales to $8 million in the third quarter of its fiscal 2012 ended March 31st. The downturn is attributed to lower sales of herbicides, including glyphosate, which is no longer being factored into future business plans ( Agrow No 619, p 2). Gross profit slipped by 0.8% to $1.3 million. That represented 16.3% of sales, compared with 9% in the same period a year earlier. The improved gross margin is due to the reduced focus on glyphosate.