FMC recorded an over 30% slide in agrochemical sales to $1,015 million during the second quarter ended June 30 compared with the corresponding quarter in 2022. Despite a 3% contribution from higher prices, the 31% fall in volumes and 2% currency headwinds dragged revenues down. “FMC delivered second quarter results in-line with recently adjusted guidance expectations,” says Mark Douglas, FMC president and chief executive officer. He notes that active inventory management by growers and the distribution channel drove “unprecedented volume declines”.
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