Higher demand for agricultural products soaring demand for agricultural chemicals Global agrochemical company seize the opportunity to make money

With higher agricultural product prices and strong growth in demand for agrochemicals such as herbicides, fungicides and pesticides, global agrochemicals and seed companies have consistently achieved high returns over the past two years and it is expected that this year's profitability will continue to increase. According to the United States "Chemical Weekly" report, although the growth rate has slowed down, but due to the increase in the price of agrochemicals offset the unfavorable factors of sales volume, sales revenue and earnings in the first half of this year continue to grow. At the same time, as the market share of GM crops in North America, South America, and parts of Asia, including China, has expanded and the seed business is growing at a double-digit rate, Europe still strongly rejects GM crops.
According to the consulting firm Phillips McDougall of the United Kingdom, the value of the traditional crop protection chemicals market increased by 15% in 2004 to 30.7 billion US dollars. The value of the commercial trade seed market grew by 10.3% to reach US$19 billion. Seed and transgenic herbicide-tolerant and insect-resistant crop-trait seed sales grew even more, increasing by 19.3% to $4.7 billion. Thanks to this market, traditional agrochemical companies have mostly carried out seed and genetically modified operations.
Syngenta stated that as the company’s product sales continue to increase and product prices continue to increase, sales in the first half of 2005 increased by 14% to US$5.4 billion; net income increased by 21% to US$808 million. Dow Chemical sales in the first half of this year increased by 3% to reach US$2.02 billion. Dow's seed business is focused on corn and cotton, and is developing oilseeds such as canola and sunflower. DuPont reported that in the first half of 2005, the total income from agriculture and nutrition was US$4.5 billion, an increase of 4%. The increase in revenue was due to the increase in the average selling price of crop products and the favorable currency exchange rate. Monsanto's sales for the nine months ended May 31 this year jumped 20% to reach 5 billion U.S. dollars. 14% of its sales revenue comes from its core business, and the rest comes from the acquisition activities of the seed business. The company’s net income increased by 23% to $309 million.
BASF said that although sales of its agricultural products and nutrition business fell by 3% in the first half of the year to only 2 billion euros, profit before interest and taxes (Ebit) rose by 23% to 575 million euros. BASF said it expects the agrochemical market to grow by 1% to 2% annually, the herbicide market to grow by 1% to 2% annually, the pesticide market to grow by 2% annually, and the fungicide market to grow by 2% to 3% annually.
Bayer CropScience stated that the company is focusing on building a new product resource pool and claims that it has the best R&D channels for agrochemicals. Bayer CropScience’s operating income in the first half of 2005 rose by 7.1% to 576 million euros, while sales fell by less than 1% to 3.374 billion euros. Bayer said that the price increase in the seed treatment and fungicides business partially offset the decline in the pesticide and herbicide business.

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