Syngenta and Monsanto raking it in thanks to biofuels
Makes you want to spit doesn't it, it doesn't matter if they destroy the planet meanwhile, they'll simply buy another one. Or maybe they'll build another one and the rest of us can all tender for a place on the rocket:
TWO of the world’s largest agricultural super-powers have recorded impressive profits and are confident of continued growth.
Agro-chemical company Syngenta said first quarter sales have gained 20 per cent and predicted full year profit to increase thanks to increased demand for food and biofuels.
Syngenta reported a growth in profit for a fifth consecutive year.
Meanwhile, Syngenta’s great US rival, Monsanto said it hopes to double gross potential profit by 2012 on the back of solid yearly profits.
Monsanto chairman Hugh Grant said: “The performance of our seeds and traits business has us on track for another exceptional year and well positioned to support our five-year strategic growth plan.”
Monsanto reported record net sales of nearly £2 billion for the first quarter – an increase of 45 per cent on the previous year.
Demand from the ethanol industry, the food industry and a weak dollar have pulled together to push up the price of corn, which has impacted positively on profits, said Mr Grant.
TWO of the world’s largest agricultural super-powers have recorded impressive profits and are confident of continued growth.
Agro-chemical company Syngenta said first quarter sales have gained 20 per cent and predicted full year profit to increase thanks to increased demand for food and biofuels.
Syngenta reported a growth in profit for a fifth consecutive year.
Meanwhile, Syngenta’s great US rival, Monsanto said it hopes to double gross potential profit by 2012 on the back of solid yearly profits.
Monsanto chairman Hugh Grant said: “The performance of our seeds and traits business has us on track for another exceptional year and well positioned to support our five-year strategic growth plan.”
Monsanto reported record net sales of nearly £2 billion for the first quarter – an increase of 45 per cent on the previous year.
Demand from the ethanol industry, the food industry and a weak dollar have pulled together to push up the price of corn, which has impacted positively on profits, said Mr Grant.
