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Syngenta defends global stance amid U.S. scrutiny

Financial Times Companies •
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Syngenta’s chief executive, Jeff Rowe, dismissed U.S. concerns that the Beijing‑backed agribusiness harbors “nefarious” motives. Rowe argued that politicising food production harms farmers and that the company’s Swiss base and multinational staff defy any single national agenda. The Arkansas divestment, forced by state regulators, highlighted growing U.S. wariness of Chinese ties and global markets.

Rowe welcomed talks between President Trump and Xi Jinping, stressing that agriculture should stay above politics. He warned that the Arkansas order, which shut a Syngenta research lab, hurt local jobs and food security. The decision underscored the U.S. trend of treating farmland and seed technology as national‑security assets.

Financial data showed a 2% rise in first‑quarter sales to $6.4bn, driven by China growth and efficiency gains. Earnings before interest, tax, depreciation and amortisation climbed 5% to $1.4bn. Rowe said the company’s momentum comes from global operations, not just China, and that Middle‑East turmoil is squeezing farmers with higher fertiliser and fuel costs.

Syngenta is eyeing a public listing after shelving a Shanghai IPO. Earlier this year, banks were asked to advise on a Hong Kong deal that could raise $10bn. Rowe said the firm is “IPO‑able” but has not set a timing or venue. The company’s stance may influence U.S. regulators’ approach to other Chinese‑owned agribusinesses.