Syngenta Group, the global seeds, crop protection and nutrition product manufacturer, saw its sales revenue surge 25 percent on a yearly basis to $21 billion in the first three quarters of this year, according to fiscal data released on Thursday.
The group said the growth is mainly driven by products and services that help farmers address climate change in the face of a challenging supply and logistics environment.
“Our strong performance shows our teams are helping farmers address climate change and feed the world. We have seen a great need for our products and digital tools to help farmers globally grow high-quality foods despite difficult weather challenges,” Syngenta Group CEO Erik Fyrwald said.
The group”s climate-friendly agricultural products and digital services are helping create opportunities for farmers around the world for a more sustainable future, he added.
The group’s sales revenue soared 27 percent year-on-year to $6.5 billion in the third quarter of 2021.
The company’s performance was underpinned by production, procurement and logistics focus amid worsening global supply chain constraints during this period, while its Modern Agriculture Platform, which provides Chinese farmers access to leading technologies, tripled sales year-on-year.
Harvest setbacks due to severe weather extremes and market supply constraints exacerbated the already low stock-to-use ratios of key grains and led to continued robust grain prices while driving strong demand and growth for Syngenta Group’s products and services, the company said.
Demand was strongest for the group’s technologies enabling farmers to grow crops in difficult weather conditions while also increasing yields and productivity of existing arable land.
Syngenta Group China delivered strong growth across all segments. MAP sales tripled to $1.5 billion in the first nine months by helping farmers improve soil health, reduce greenhouse gas emissions and improve the quality and value of their crops.
The fiscal sheet said the company has continued to build out its digital platforms, with farm management tools helping growers navigate weather changes and make better data-driven decisions. Farmers equipped with diagnostic apps and digital platforms can more sustainably grow crops.
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