Herbos sales rocket in 2007

The Croatian agrochemical company, Herbos (Zagreb), increased its sales by 61% to Euro 26.4 million ($4 million) in 2007. The company cites the widening of its product range on certain crops, such as sugar beet, cereals, soybeans and sunflowers, and by "more aggressive" marketing activities as reasons for the boost.

Herbicides remained the largest segment despite relatively slow growth in 2007 (+17.1%). The performance was followed by that of fungicides, which more than doubled to reach Euro 5.3 million. Insecticide sales rose nearly five-fold to Euro 7.1 million.

Herbos' agricultural product sales by value (Euro 000) 

                      2006    % change         2007 

Herbicides          11,700      +17.1        13,698 

Fungicides           2,500      > 100         5,286 

Insecticides         1,500      > 100         7,101 

Others                 700      -56.1           307 

Total               16,400      +60.9        26,392  

Sales grew by 55.5% in volume to 2,727 tonnes. Insecticides led the way with a more than four-fold increase, reaching 927 tonnnes. The performance was followed by that of fungicides (+88.6%), amounting to 528 tonnes. Herbicide sales, however, dropped by 12.4% to reach 1,055 tonnes.

Herbos agricultural product sales by volume (tonnes) 

                        2006     % change      2007 

Herbicides          1,205       - 12.4       1,055 

Fungicides            280       + 88.6         528 

Insecticides          204       > 100          927 

Others                   65       > 100          217 

Total                1,754       + 55.5       2,727 

outlook

Following the strong growth of 2007, the company plans to further raise domestic sales and exports this year, Agrow's Croatian correspondent reports. Herbos plans to expand its market share in the Balkan area, specifically Bosnia and Herzegovina, Montenegro, Macedonia and Serbia.