Syngenta warns a slowdown in Latin American and the stronger dollar will erode 2015 earnings after third-quarter sales dropped.
Bloomberg reports revenue fell 12 percent in the third quarter to $2.6 billion for the company that balked at a takeover approach from Monsanto earlier this year.
Sales were hurt by low commodity prices in Brazil and tight credit in Argentina, according to the company.
The world’s largest maker of agrochemicals now joins the ranks of Monsanto, FMC Corp and DuPont Co. in predicting a slump in agricultural markets and waning demand for crop chemicals from farmers will hit earnings this year, according to Bloomberg.
Syngenta’s Chief Executive Officer Mike Mack said in a statement that the company is unlikely to meet original expectations for 2015.
