Syngenta Group’s Post

BIG NEWS: UPL Ltd. announces the planned #acquisition of Corteva Agriscience's solo #mancozeb global #fungicide business outside of #China, Japan, South Korea, and EU member countries. The acquisition is limited to Corteva's solo formulations of mancozeb, with Corteva retaining ownership of premix formulations. The transaction is subject to customary approvals and expected to conclude Q1 of FY24-25. #agrochemicals #plantprotection

Syngenta Group Reports Financial Results For Q1 2024 Syngenta Group reported a significant decline in sales and EBITDA in Q1 2024, which is due to the challenges faced by the industry as a whole. The decrease in sales can be attributed to the destocking in Crop Protection, which is a trend that is common across the industry. This has been influenced by higher interest rates, leading to reduced inventories. In response to the reduced volume and prices, the company has intensified its efforts to improve operational efficiency and productivity. Despite the overall downturn, there was noticeable growth in the Vegetable Seeds, Flowers, and China markets within the Seeds division. The quarter saw notable strategic activities, such as the acquisition of Dafeng Seed and the introduction of new agrichemical products. Read more here -> https://lnkd.in/e6qFH5kg #financial #financialresults #q12024 #syngenta #igrownews #seed #cropprotection

Market information is one of the most important parameters to consider that guides our direction and strategies in the Crop Protection business #agrochemical #sales

Will UPL find the much needed boost from BASF’s Glufosinate facility closure? Or is the beleaguered Agrochemicals sector already set for the doom! We have been hearing - Chinese overcapacities, extreme level stocking in the USA and a price dumping in LATAM and India, for the past 1.5-2 years now. Companies like BASF are shutting down capacities due to the continuous price erosion. One recent example is of Glufosinate where BASF has announced discontinuation of its existing Glufosinate manufacturing sites due to cost pressure. BASF’s Glufosinate facility closure might result in short term volume gains for UPL in the USA market. Distributors in USA have already bought in excess inventories again for Glufosinate in the past 1-2 months. Due to intense competition from China and increased production cost, BASF will shut down two of its facilities (12000 ton per annum) in EUROPE for Glufosinate ammonium formulation. But then there are newer Chinese capacities (10-15 KT) to continuously push the prices down further in coming 6-8 months. The only way out is- contract manufacturing where one can have anchor buyers with bette demand visibility. Everything else is spot business and will remain like that in generic agrochemicals. #agrochemicals #chemicals

Syngenta Group today announced financial results for the first quarter of 2024. Sales for the first quarter 2024 were $7.4 billion, down $1.8 billion or 20 percent (-18% at CER), compared to a strong first quarter 2023. First quarter 2024 EBITDA decreased 34 percent (-26% at CER) from prior year to $1.2 billion. Sales in the first quarter of 2024 continued to be impacted by industry-wide channel destocking in Crop Protection as distributors and retailers further reduced inventories in response to the pressure to lower working capital in the higher interest rate environment. Read More: https://ow.ly/3Oa750Ruao2 #Agrochemicals #CropProtection #PlantHealth #Agribusiness

Syngenta Group, a Chinese-owned company known for seeds and pesticides, is considering pulling out of its plan to list on the Shanghai stock market. Insider sources suggest the announcement could come soon. This step would give Syngenta the flexibility to focus on business growth and hold private discussions with potential investors. #Syngenta #ChinaIPO #StockMarketListing #BusinessNews #Investors #SeedAndPesticide #MarketUpdate #trending

The crop protection market has witnessed a considerable level of consolidation in recent years following the spate of mega-mergers that saw Bayer acquire Monsanto; Dow and DuPont merge to form Corteva Agriscience; UPL acquiring Arysta LifeScience; and Syngenta becoming part of Chem China. Following this, the mergers and acquisition landscape within conventional crop protection has been relatively more subdued. AgbioInvestor forecasts that the global crop protection market will be relatively static over the next five years in real terms when using 2021 baseline pricing to account for the dramatic spike in active ingredient pricing that ultimately drove the dramatic growth of the market in 2022. As a result, many stakeholders in the industry will already be thinking about where the next opportunity may arise for investment in a challenging market. Read more from AgbioInvestor's Senior Analyst Lawrence Middler in a recent issue of ABG Direct: https://ow.ly/Hvrc50REQ7m #Agribusiness #PlantHealth #CropProtection

𝐂𝐫𝐨𝐩 𝐏𝐞𝐬𝐭𝐢𝐜𝐢𝐝𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐. 𝐆𝐥𝐨𝐛𝐚𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭. The development of the Crop Pesticide industry chain, encompassing Farmland (Herbicides, Fungicide) and Orchard (Herbicides, Fungicide), alongside key enterprises in developed and developing markets, has been analyzed, including cutting-edge technology, patents, hot applications, and market trends. Regionally, North America and Europe are witnessing steady growth propelled by government initiatives and increasing consumer awareness, while Asia-Pacific, particularly China, emerges as the global leader in the Crop Pesticide market due to robust domestic demand, supportive policies, and a strong manufacturing base. The market is segmented by Type and Application, with accurate forecasts for consumption value by Type and Application from 2024 to 2032. 𝐓𝐨 𝐊𝐧𝐨𝐰 𝐓𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐢𝐳𝐞 𝐀𝐧𝐝 𝐃𝐞𝐦𝐚𝐧𝐝 𝐎𝐟 𝐂𝐫𝐨𝐩 𝐏𝐞𝐬𝐭𝐢𝐜𝐢𝐝𝐞 𝐌𝐚𝐫𝐤𝐞𝐭. 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:https://lnkd.in/d7CgP6ys *𝗕𝘆 𝗧𝘆𝗽𝗲: Herbicides, Fungicide, Pesticides, Plant Growth Regulator, Other. *𝗕𝘆 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻: Farmland, Orchard, Other, *𝗕𝘆 𝗥𝗲𝗴𝗶𝗼𝗻: North America, Europe, Asia-Pacific, South America, Middle East & Africa.   *𝗕𝘆 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀:Uplers , CERTIS USA LLC , BASF , Bayer, Isagro S.p.A. , Nufarm , W. Neudorff GmbH KG, Arena BioWorks , Koppert , Syngenta , Corteva Agriscience , FMC Corporation , Sumitomo Mitsui Banking Corporation – SMBC Group, Nissan Motor Corporation. #marketresearch #marketanalysis #industryinsights #trendanalysis #businessintelligence #marketforecast #economicoutlook #consumerbehavior #competitiveanalysis #marketstrategy #marketinsights #industryreport #marketsegmentation #businessgrowth #strategicplanning #marketupdate #economicanalysis #marketdevelopment #marketopportunity #marketdynamics

EXCERPTS: Chinese-owned pesticides and seeds giant Syngenta Group Co. Ltd. had spent three years talking a big game about an imminent IPO. Then on March 29, news broke that it had quietly shelved plans to list. Confirmation from the group came shortly after. The decision to pull what was slated to be a 65-billion-yuan ($8.96 billion) float was made after “careful consideration of industry environment and the company’s own development strategy,” Syngenta said in a statement that day. The news was surprising to many who follow the muscular agtech firm, which was acquired by state chemical giant China National Chemical Corp. Ltd. (ChemChina) in 2017 for what remains the largest ever overseas purchase by a Chinese company — a whopping $43 billion. The plan was to eventually spin it off for a listing on a Chinese mainland bourse to help relieve ChemChina of the debts it racked up cobbling most of that sum together from loans. The state giant paid a significant premium on hopes of a windfall from what was then believed to be the imminent liberalization of China’s tightly-regulated genetically-modified seed space. Progress on that has been slower than anticipated. COMMENT: I was also expecting the Syngenta IPO as a milestone for the Chinese capital markets but with financials like this (see below, attached) and other stuff hanging on its balance sheet, it could be either a long road or set-up a "bad co" (AMC) like the big banks have done.

In a recent conversation with Bloomberg and Nina Trentmann, our CFO, Hengde Qin, shared insights into how Syngenta Group is navigating the current business landscape. He discussed the challenges of shifting purchasing patterns, the ongoing destocking trend, and the impact of high interest rates on inventory management. He explained how in this market environment Syngenta Group will continue to consolidate market share and enhance its leading position in the global agricultural technology field, focusing on operational efficiency, profitability, and cash flow generation. Hengde also highlighted how - since becoming CFO of Syngenta Group in December 2023 – he focused on the short- and long-term financial health of the company, with an optimal capital allocation to translate corporate strategy into action, driving long-term value creation. When asked about IPO plans, Hengde stressed that for now, Syngenta Group will look to restart the listing process, either in China or a different global exchange, when the equity and agrochemicals markets conditions are right and that the Group will remain flexible in its approach and explore several sources of funding. For more details, you can find the full interview here (behind a paywall): https://lnkd.in/dY8JfzC4 #Agriculture #GlobalCollaboration #FoodSecurity