Syngenta hit by farms slip

ANGLO-Swiss biotech group Syngenta is feeling the effects of low commodity prices for farmers throughout the world as the horny handed sons of toil cut back on demand for its products to protect seeds and crops.

Sales in the first quarter of 2002 were $1.84bn(£1.27bn) against $1.91bn in the same quarter of 2001.

British farmers benefited from the warm winter for their autumn-sown wheat and barley crops and upped their demand for cereal fungicides. French demand, however, was slow starting.

Seed field crop sales were down, largely due to intense competition from rivals in the US corn market combined with reduced soya bean acreage in North America. The good winter and spring weather across Europe has boosted vegetable and flower seed sales.