This excerpt taken from the SYT 20-F filed Mar 1, 2006.
Syngenta Faces Increasing Competition in Its Industry, Especially During Downturns in the Agricultural Economy
Syngenta currently faces significant competition in the markets in which it operates. In most segments of the market, the number of products available to the grower is steadily increasing as new products are introduced, although this trend has recently slowed as some products are withdrawn because they are not re-registered or are subject to voluntary programmes to reduce the range of products offered. At the same time, an increasing number of products are coming off patent and are thus available to generic manufacturers for production. As a result, Syngenta anticipates that it will continue to face significant competitive challenges.
Declines in commodity crop prices can indirectly affect Syngentas results. They can result not only in reduced sales, but also in competitive price pressure in certain of our markets. These fluctuations may negatively impact Syngentas business or results of operations in the future.