The Syngenta Group reports full year sales of $32.2 billion, down $1.2 billion or four percent year-over-year. Sales were impacted by the destocking phenomenon when crop protection distributors and retailers drastically reduced inventories. That was in reaction to an inventory buildup with the supply chain problems in previous years. Crop protection sales were down a modest five percent while the sales of biological solutions grew 11 percent. The Syngenta seed business rose two percent. The ADAMA sales were down 17 percent globally. The Syngenta Group also announced it will withdraw its IPO application from the main board of the Shanghai Stock Exchange.
