Strong dollar pounds Brazilian agchem market
The strength if the US dollar has hammered the sales figures for the Brazilian agrochemical market this year. Despite a rise in sales for the first five months of 2009 in the national currency, the market in dollars is down by over a quarter (26%) to $1,475 million, according to the Brazilian agrochemical industry trade association, the Sindag. Sales in the national currency were up by 1.7% to R$3,328 million. Nevertheless, the national market is 16% higher in dollar terms against the first five months of 2007.