Sumitomo Reports Rising Crop Protection Demand

Posted by Jackie Pucci|1 November 2013

Japan’s Sumitomo Chemical reported that its crop protection business climbed 16% in the first half of the year on increased production capacity and higher sales.

The company, which operates a range of chemicals businesses, said shipments of herbicides and other products rose in overseas markets. It also benefited from the correction of the yen’s appreciation, which had a positive effect on sales from overseas subsidiaries in yen terms.

Its Health & Crop Sciences unit posted a $200 million sales increase from a year ago to $1.4 billion for the half-year ended Sept. 30, 2013. Operating income grew by $38.5 million to $117.5 million.

Market prices of the feed additive methionine declined in the period, Sumitomo said.