ZURICH, (Reuters) – Syngenta Group, a Swiss agrochemicals company that aims to raise $10Billion through an initial public offering, has reported that it saw 27% growth in third quarter sales, according to the Chinese-owned firm.

As it capitalized on rising grain prices, while addressing what it termed a worsening supply situation, it increased sales to $6.5 Billion from $5.1 Billion a year ago.

Syngenta stated that it is “actively managing” the supply chain in order to compensate for global market constraints. This situation was made more difficult by China’s energy scarcity, which impacted crop nutrition and pesticide manufacturing.

Syngenta said that the increase in operating costs such as procurement, logistics, and labor were partly offset by increased selling prices for all businesses.

According to the company, earnings before interest tax, depreciation, amortization (EBITDA), increased 13% from $800 million to $800million.

Syngenta saw a strong demand from farmers for products that help them overcome extreme weather conditions, such as the spray made of seaweed to aid grapevines in dealing with extreme temperatures.

Syngenta competes against Bayer in Germany (OTC:), and a U.S.-based agrochemicals firm Corteva (NYSE:) was purchased by ChemChinafor $43 Billion in 2017 and now is poised to be floated

After being temporarily suspended, the Shanghai Stock Exchange resumed reviewing the flotation. The company had to update its financial reports.