ZURICH (Reuters) — Swiss firm Syngenta, the world’s largest maker of crop chemicals, saw first quarter sales fall more than expected, hit by low commodity prices, the strong U.S. dollar and a prolonged winter in the United States.
Weaker crop prices have farmers spending less, putting firms such as Syngenta under pressure.
The shift in the U.S. to soybeans from corn is also an issue because soybeans require fewer inputs.
Syngenta reported sales of US$4 billion for the first three months of the year, down 14 percent from last year and below the average forecast of $4.3 billion in a Reuters poll.
