Monsoon delay hits sales of agri input companies in June quarter

Both seed and agrochemicals businesses remain muted on slow progress of rainfalls

Sales of seeds and agrochemicals were muted in the April-June quarter for agricultural input companies, due to the delay in rainfall.

Bayer CropScience reported a 20 per cent decline in revenue to Rs 663.6 crore from the corresponding period last year. Profit before exceptional items and tax fell 49 per cent to Rs 117.4 crore.

“The late onset of monsoon and delayed kharif sowing resulted in deferment of product placement in the market, which impacted our Q1 (financial year’s first quarter) results. While the rain deficit has reduced in July and would support improved sales growth in Q2, significant delays