SEEDCO’s sales volumes were up 23 percent during the quarter ended June 30, 2021, driven by the onset of the winter wheat season and a government import substitution drive.
In a trading update last week, the company said wheat seed made up 93 percent of the total sales volumes during the period.
“Wheat seed sales volumes were 25 percent higher than prior year on the back of a government import substitution drive. This was further enhanced by improved irrigation capacity, which benefited from rising water levels following the good rains received during the summer,” SeedCo said.
Historical cost revenue for the quarter grew by 303 percent from the same period last year attributable to the sales volume growth and the local currency depreciating by 240 percent from $25/US$ in prior year to $85/US$ at the reportin
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