US-based seed and agrochemical company Monsanto has announced that losses in the fourth quarter (Q4) of the year came to US$233m, larger than the US$172m of losses reported in the same period of 2008.
The result was hit by a year-on-year fall in group revenue, which dropped to US$1.88bn from US$2.05bn last year, hit by falling sales in Roundup and other glyphosate-based herbicides (down to US$778m from US$936m last year).
Meanwhile, sales in Monsanto's seed and genomics segment dropped by just under 4 per cent to US$908m through the three-month period.
Monsanto has now entered the next decade of global growth,' said chairman, president and CEO Hugh Grant. 'Over the last 10 years, we emerged as the industry leader in the agricultural space based on a grower-oriented strategy of successfully introducing innovative solutions to increase yield for farmers.
'The coming decade holds even greater promise as we commercialise the strongest pipeline of products ever seen on a farm,' he added. 'Our success rests with four core beliefs: That our success if forever linked to the farmer's success; that our commitments are only as good as our ability to deliver new value on farm; that growth has to be funded, but prudently; and that the value we create must be shared with our customers and our owners.'
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