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Sumitomos agchem sales slip
Jun. 18, 2008
Sumitomo Chemicals agrochemical sales in the year to March 31st 2008 amounted to ¥142,411 million ($1,356 million at current exchange rates), down by 6.7% on the previous year. Growth in overseas markets was offset by a decline in sales in Japan, due to adjustments made in distribution inventories, the company says.
Sales in markets outside of Japan increased by 10.1% to $829 million. The growth was due to higher sales of fungicides, the company says.
Sumitomo Chemicals agchem sales by category 2007/08
Insecticides 44.0%
Herbicides 24.2%
Fungicides 19.2%
Others 12.6%
Crop protection products accounted for 71% of the sales of the companys agricultural chemicals division, which includes feed additives. Total division sales rose by 1% to ¥200,378 million. Divisional operating income declined due to one-time costs associated with the integration of Sumitomo Chemical Takeda Agro, which was completed in November 2007.
Source: Agrow
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