Bayer sees 2023 results at lower end of range as weedkiller prices drop
May 11, 2023 – Drug and pesticide maker Bayer said its 2023 results would likely come in at the lower end of its targeted range, hurt by cost inflation and a slump in prices of glyphosate-based weedkillers from last year’s highs
Bayer saw herbicide sales jump 44% in 2022 after Hurricane Ida damaged rival producers and constrained Chinese suppliers failed to plug the gap. Prices have been dropping as competitors have returned to the market this year.