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Syngenta Boosted by Biofuels

11:13 AM MST | February 7, 2008 | Alex Scott

Syngenta today reported net profit for 2007 up 75% to $1.1 billion, on sales up 15% to $9.2 billion. About 5% of the sales growth resulted from an increase in demand for seeds and crop inputs used to generate biofuels, Syngenta’s CEO Mike Mack, tells CW. Additionally, “stocks of major commodity crops reached record low levels prompting rises in crop prices, which has encouraged growers worldwide to increase investment in their crops in order to maximise yield,” Mack says. The group’s pesticides business recorded growth in all lines and in...

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