Amvac agchem sales down 23% in 2014
American Vanguard's crop protection sales fell by 22.7% to $267.7 million in 2014. The company blames the reduced procurement of maize products by the US Mid-West distribution channel due to the build up of stocks after adverse weather conditions in 2013. "Understandably, these large carry over inventories prompted a sharp reduction in restocking orders during 2014, as excess supplies were worked down," says chairman and CEO Eric Wintemute. "Reduced sales of our corn products were the primary drivers of our 2014 revenue decline, offsetting the stability and modest growth of our sales in other crop segments."