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Low herbicide sales hit Monsanto
Oct. 12, 2009
Revenue fell to $1.88bn from $2.05bn the previous year. Sales in its agricultural chemical division, which includes Roundup, fell 12.5%.
Monsanto is the worlds best-known maker of genetically modified crops.
Experts said the downturn in sales of Roundup did not come as a surprise.
"While the super spike they saw in Roundup was nice while it lasted, it is going to make for some nasty comparisons going forward," said Morningstar analyst Ben Johnson.
"The seeds business is really the long-term growth driver as a whole."
Earlier this year, Monsanto announced a plan to restructure its herbicide unit, cutting 900 jobs, or 4% of its workforce.
Source: BBC news
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