Syngenta's sales at constant exchange rates increased by 3 percent in the first half of the year, with prices up 6 percent and volumes 3 percent lower. Excluding glyphosate sales which were up 6 percent. Reported sales were down 10 percent, with most currencies depreciating against the US dollar.
Mike Mack, Chief Executive Officer, said: “In 2015 our industry has experienced continuing softness in crop prices and low farm incomes. Despite these challenges, and our decision to reduce sales of glyphosate, we achieved sales growth at constant exchange rates of three percent in the first half. We have been able to largely offset currency depreciation in emerging markets through determined price increases and this, together with our hedging program, has mitigated the impact of currencies on EBITDA."
