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Mixed fortunes for top five majors

Last year’s merger of Dow Chemical and DuPont to form DowDuPont means that there are now only five agrochemical companies in the top tier of the industry. 

Last year’s merger of Dow Chemical and DuPont to form DowDuPont means that there are now only five agrochemical companies in the top tier of the industry. The majors had mixed results, with only BASF and Monsanto posting sales gains, while Syngenta, Bayer and DowDuPont recorded modest declines. High channel inventory levels in Brazil and China tended to depress results.

Syngenta remained the largest player in terms of agrochemical revenues despite a 3.4% decline. Sales were down by 4% at constant exchange rates. Business was down by 15% in Latin America but other regions showed 1-2% gains. Seed treatment sales increased but other product categories posted declines.

Bayer’s agrochemical sales were down by 7% in euros and by about 1% in dollars. The company saw declines for all product categories, with a double-digit percentage fall for fungicides. High inventory levels in Brazil necessitated measures that reduced sales there.

BASF’s 2.3% agrochemical sales rise in euros translated to a nearly 9% rise in dollars. Gains for the herbicide and biopesticide/seed treatment businesses more than offset declines for insecticides and fungicides.

DowDuPont’s agrochemical sales fell by 1% on a pro forma basis. Growth from new products was more than offset by pricing pressures in Latin America and high inventory levels in China.

Monsanto’s agricultural productivity segment, which comprises crop protection and lawn and garden products, posted a 6.1% rise in revenues.

Agrochemical sales of the leading companies

2017

(2016)

ranking

Company

$ million1

Reported

currency

million

% change

$

% change

reported

1 (1)

Syngenta2

9,244

(9,571)

$9,244

($9,571)

-3.4

-3.4

2 (2)

Bayer Crop Science3

8,713

(8,810)

€7,403

(€7,961)

-1.1

-7.0

3 (3)

BASF

6,704

(6,163)

€5,696

(€5,569)

+8.8

+2.3

4 (-)

DowDuPont4

6,100

(6,162)

6,100

($6,162

-1.0

-1.0

5 (5)

Monsanto5

3,727

(3,514)

$3,727

($3,514)

+6.1

+6.1

1 converted using average annual exchange rates for 2017 and 2016; 2 owned by ChemChina - excludes lawn and garden sales of $681 million in 2017 and $663 million in 2016; 3 excludes environmental science sales of €671 million in 2017 and €598 million in 2016; 4 pro forma results as if DuPont and Dow Chemical merged on January 1st 2016; 5 year ended August 31st.

The majors with seed and trait businesses all reported significant growth in 2017.

Seed and trait sales of the leading companies ($ million)

2017 (2016) ranking

Company

2016

% change

2017

1 (1)

Monsanto1

9,988

+9.3

10,913

2 (-)

DowDuPont2

7,810

+5.0

8,200

3 (3)

Syngenta

2,657

+6.4

2,826

4 (5)

Bayer Crop Science3

1,501

+17.9

1,769

1 year ended August 31st; 2 pro forma results as if DuPont and Dow Chemical merged on January 1st 2016 3 reported in euros - €1,356 million in 2016 and €1,503 million (+10.8%) in 2017.

 

 

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