Syngenta sales up 14% amid favourable planting conditions

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Swiss agrochemicals group Syngenta on Friday posted strong growth in its first quarter sales, led by healthy demand in Europe, Africa and the Middle East.

Sales were up 14 percent at $4 billion (2.8 billion euros) between January and March, falling within the range forecasted by analysts.

"A favourable environment encouraged early investment by wheat growers across" Europe, Africa and the Middle East, where sales increased a fifth, said the Basel-based group.

Demand for fungicides, insecticides and corn led Latin America to post growth of 16 percent, it added.

Asia Pacific and North America meanwhile recorded an increase of 6 percent in sales.

Syngenta posted a slight drop of one percent in 2010 annual net profit to 1.4 billion dollars.

© 2011 AFP

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