News in brief: In the past week, some agric chemical companies experienced stock declines, while others saw growth, as did food processors and companies in different sectors. Bayer, despite expectations of better stock performance, saw a 3.58% drop, along with FMC Corporation, while companies like Nutrien had positive weeks with stock increases of over 2%.
Over the past week, some top agriculture chemical companies saw their stocks plunge, while others reported growth. The same was the case for food processors and others operating in different areas of the sector.
With the ‘good news’ about glyphosate getting green-lit by the European Food Safety Authority (EFSA), it was expected that Bayer would see better stock performance. The company makes Roundup, a herbicide that uses the chemical.
However, Bayer saw its stock drop by 3.58% over the week. It was not alone; FMC Corporation, another chemical giant, recorded a poor outing as well. So did Chinese government-owned Syngenta. Meanwhile, companies like Nutrien, which makes nitrogen fertilizers, saw a good week with its stock going up by more than 2%. Other top agricultural chemical companies that recorded a good outing the past week include Adama Ltd., CF Industries, Mosaic Co, Yara International, and Intrepid Potash.
Deere & Company, an American company that manufactures agricultural machinery and other kinds of heavy equipment, saw a slight fall in its stocks over the week. A closer look at the performance showed that it had suffered a deficit early in the week and only recovered on the last day of trading, Friday. AGCO Corporation, another American agricultural machinery maker, recorded a slightly positive share price performance. The available data on the two machinery makers show movement of less than 1% during the week.
In the food processing business, Archer-Daniels-Midland Company recorded a 4.85% increase in its stock over the week. Bunge, a direct competitor in the industry, saw a better share price performance at 8.23%. Tyson Foods and Brazil’s JBS also saw positive movement in their stocks over the same duration.
It was not all rosy for the food processors as Olam Group, a company with a presence in over 60 countries, including Nigeria, saw a 1.42% drop in its stock value. India’s animal feed supplier, Godrej Agrovet, recorded a worse outing with a 2.14% decline in valuation, and CHS Inc. witnessed a slightly poor week, coming in at a drop in value of 0.23%.
