Please find a summary of key trends for the agro markets that could impact our businesss in 2015

(In attachment the full Analysis provided by Solvay Strategic Marketing in Purchasing)

 

Fertilizers and Agrochemicals general demand drivers:

Key Agro commodity prices should significantly decline in 2015 due to abundant supply and current confortable stocks level. As the consumption of intrants in agriculture are usually stimulated by high revenue expectation resulting of high crop prices, this down price trend could possibly soften the general agrochemicals demand in 2015.

 

 

Factors that could impact the carbofuran demand

 

• Lower sugar production expected in Brazil in 2015 but global ample supply due to the production offset  in other countries.
• Sugar stocks remain at a  high level
• World  Sugar price 2015 is forecasted to decline -26% versus 2014

 

 

Biodiesel trends

Global production is planned to icnrease + 8,5 %/year for the coming 3 years boosted by production in Brazil and Argentina (from soybean oil), in Indonesia (from palm oil)

and in Europe (from rapaseed oil).