Dow Gets Big Boost from Higher Latin America Herbicide, Insecticide Demand

Jackie Pucci Posted by Jackie Pucci|24 July 2014
Sales of new crop protection products grew 14% in the quarter.

Sales of new crop protection products grew 14% in the quarter.

Strong sales gains at Dow AgroSciences boosted the chemical giant’s profit for the second quarter, powered by insecticide and herbicide demand in Latin America.

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Dow AgroSciences posted record sales for the period of nearly $1.9 billion, up 10% from a year ago. Volume increased 9% and price rose 1%. Latin America showed the biggest volume gains of any geographic region.

Crop protection sales climbed 12%, with increases in all geographic areas, dominated by Latin America on higher sales of insecticides and herbicides. Sales of new crop protection products grew 14% in the quarter.

Seeds, traits and oils sales increased 4% in the quarter and are up 23% through the first half of the year, driven by demand for SmartStax corn hybrids.

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EBITDA for the segment was $290 million, down from $307 million a year ago, reflecting a shift in seasonal buying patterns and increased investments.

For Dow as a whole, research and development (R&D) expenses increased 3% versus the same period last year, largely due to increases in prioritized technology pipeline investments — primarily in Agricultural Sciences.

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