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Cheminova’s Q1 agchem sales down 13%

Cheminova registered a 12.8% decline in agrochemical sales to DKK 1,128 million ($187 million at the current rate) in the first quarter of 2010. Agrochemicals accounted for some 93% of Cheminova’s sales of DKK 1,215 million ($202 million). They, in turn, accounted for almost all of parent company Auriga’s revenues of DKK 1,218 million ($202 million). A late start to the season in Europe and North America and a strongly competitive market for the herbicide, glyphosate, impacted sales negatively and resulted in the posting of “unsatisfactory earnings”.

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