Phillips McDougall: Outlook Positive for Rest of 2013
4 September 2013 
The agrochemical market looks strong for the rest of this year, coming off a stronger first-half and high sales in Latin America, Matthew Phillips of Phillips McDougall said in his latest AgriFutura report.
Phillips cautioned, however, that the robust Latin American sales trend depends on the level of maize and soybean planting in the face of expectations of large harvests in the United States. “Crop prices are slowly weakening, with futures prices, except for wheat, down on 2012 levels due to this harvest potential,” he noted.
Agrochemical sales at the company level climbed 10.8% in the first half of this year, ahead of the outcome for the same period in 2012, Phillips said. The key factors were volume recovery in markets affected by the weather in 2012 and further expansion in countries in the later stages of economic development where economic conditions, demand for crops and levels of investment have been sustained, notably in Asia, Latin America and East Europe, he added.
“It is evident that stronger glyphosate prices have assisted market development so far in 2013, softening the impact of further uptake of GM crops in Latin America,” Phillips said.
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