PANNA: Agrochemical Sales Flat in 2002


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Agrochemical Sales Flat in 2002
April 14, 2003

Agrow World Crop Protection News reports that 2002 agrochemical sales were essentially flat worldwide, at US $27.7 billion. Accounting for inflation and currency shifts, Agrow estimates agrochemical sales actually fell by 1.5% in 2002. In 2001 the market also shrank by 4.1%, thus the new figures bring the overall decline to 12% in the last five years.

By region, western European agrochemical sales showed an increase of 7.2% to US $6.3 billion, while the North American market, the world's largest, shrank 1.7% to US $8.365 billion, despite the fact that plantings were up 4%. Latin American agrochemical sales experienced the largest decline, with sales down by 3.8% to US $3.4 billion total. The Asia/Pacific market fell by 1.8% in 2002, to US $7.15 billion.

Fungicide sales increased 2.7% globally, to US $5.1 billion, while herbicide and insecticides sales were flat. Herbicide sales constitute the bulk of world pesticide sales, accounting for 46.6% of the total market.

The ranking of the top agrochemical corporations also shifted in 2002, as the biggest seven companies consolidated down to six. Agrow reports that Syngenta occupies the top spot for 2002, with Bayer CropScience, which recently bought Aventis, in the number two position, up from sixth place in 2001.

Monsanto remains in third place, same as last year, despite the largest sales decline of any company on the list--down 18% for 2002. Agrow attributes this decline to a drop in the US Roundup (glyphosate) revenues and economic problems in Latin America. Monsanto's Roundup and other herbicide sales fell by 24% in 2002 worldwide, despite the 2-3% rise in the glyphosate market within the U.S.

In the same issue Agrow reports that Syngenta, number two for agrichemical sales in 2002, boosted their profits by 2%, despite their drop in sales. The Syngenta CEO attributed the rise in profits to cost cutting measures, and stated that Syngenta estimates the global agrochemical and seed market shrank by 4% last year.

Forecasters expect global sales to decline again in 2003, due to economic problems and drought conditions in Australia. Nonetheless, the industry forecasts an expansion of about 0.4% (four tenths of one percent) per year over the next four years.

Rank   US$ Billions US$ Billions  
2002 Company Sales 2002 Sales 2001 Change
1 Syngenta
5.260
5.385
-2.3%
2 Bayer
3.775
3.978
-5.1%
3 Monsanto
3.088
3.755
-17.8%
4 BASF
2.787
3.105
+10.2%
5 Dow
2.717
2.612
+4.0%
6 DuPont
1.793
1.814
-1.2%

Source: Agrow: World Crop Protection News, February 26, 2003, March 28, 2003. 18/20 Hill Rise, Richmond, Surrey TW10 6UA, UK; Tel. (44) 20 8948 3262; Fax (44) 20 8332 8996; email agro@pjbpubs.com; http://www.agro.co.uk/; Allan Woodburn Associates, 18 Newmills Crescent, Balerno, Edinburgh, EH14 5SX, UK; Tel. (44) 131 451 5173; Fax (44) 131 451 5172; email allanawa@aol.com .

Contact: PANNA

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