North American Crop Protection Sales Drive BASF Profit

Posted By: |

BASF 1st half sales breakdown

BASF said first-half sales in its Agricultural Solutions business jumped 18% to $2.24 billion from a year ago, helped by contributions from last year’s Becker Underwood acquisition and strong North American and European crop protection sales.

“Our business developed very successfully in the Agricultural Solutions segment, particularly as a result of the good season in North America and Europe. We were able to raise sales volumes in all regions and indications with higher prices overall,” the company said in a statement.

Thanks also to the acquisition of Becker Underwood, sales easily surpassed the level of the second quarter of 2012, with volumes up 14% and prices 3% higher than a year ago.

“It was a very positive quarter in Europe despite the late start to the growing season,” the German company said, adding that it saw increased fungicide sales volumes particularly in France, Germany and Southern Europe.

North American results benefited from stronger demand for its Xemium fungicide and the herbicide Kixor, as well as an expanded offering due to its purchase of the biologicals heavyweight Becker Underwood in 2012.

Sales in Asia grew on the back of higher demand for fungicides in China and for herbicides in India, offset by negative currency effects from the weakening of the Japanese yen and Indian rupee against the euro.

In South America, higher demand for insecticides and for its F 500 fungicide led to a substantial sales increase.

“In light of the challenging conditions, our business performed well in the first half of 2013. Our business with crop protection products contributed substantially to sales and earnings growth,” said BASF Chairman Dr. Kurt Bock.

For its Agricultural Solutions unit, EBIT from operations rose 17% to $485 million from $414 million in the first half of the year-ago period.

Speaking more broadly about the company in terms of the macroeconomic environment, Bock said: “The economic environment is and remains volatile. The European economy is shrinking slightly. The Chinese growth engine is no longer running at full power. The United States is growing moderately. We are clearly feeling these effects and are doing everything we can to maneuver BASF successfully through this challenging environment.”

Topics:

Markets

Flag of Algeria
Africa

Algeria’s Reforms to Lift Agchem Market

The desire by North Africa’s hydrocarbon-rich Algeria to increase the contribution of its agriculture to the country’s economy and to

Africa

Algeria’s Reforms to Lift Agchem Market

Country has launched major changes in land management and investment in agricultural sector, raising hopes of increased use of quality farm inputs.

Adjuvants

CPDA ‘Optimistic’ U.S. Regulators Will Amend Re-Labeling Rule

Dr. Susan Ferenc, president of the Council of Producers & Distributors of Agrotechnology, is “optimistic” that U.S. regulators will provide some discretionary relief in requiring distributors to re-label certain non-pesticide agrochemical products

Americas

Label Updates Announced for EVEREST 2.0 Herbicide

Canada’s Pest Management Regulatory Agency has approved label updates for Arysta LifeScience North America’s EVEREST 2.0 Herbicide. The new registration includes

Crop Inputs

Sipcam to Evaluate Two Products From Eden Research

Eden Research plc, a natural micro-encapsulation company, signed an Evaluation Agreement with Sipcam Italia Spa and Sipcam Iberia (Sipcam, a Sumitomo-related

monsanto roundup
Americas

Monsanto Extends Roundup Partnership with Scotts Miracle-Gro

Scotts will pay Monsanto a one-time upfront payment of $300 million in exchange for a Roundup brand license, extended agency agreement and technology agreement.

Americas

EPA Registers Nanosilver Pesticide Product

This silver-based product will be used as a non-food-contact preservative to protect plastics and textiles from odor- and stain-causing bacteria, fungi, mold and mildew.

Americas

White House Announces Strategy to Protect Pollinators

Task force aims to reduce honey bee colony losses during winter to no more than 15% within 10 years.

China

Rainbow Agrees to Acquire Stake in Ningxia Grenada

Rainbow Chemical acquired a 73% stake of Ningxia Grenada which was held by Biok. Following the deal, Rainbow will increase its

Crop Inputs

Astec Lifesciences Post Positive Q4 Results

Astec Lifesciences stock jumped 18% to $2.56 (Rs 163) on the National Stock Exchange after the company’s consolidated net profit for

China

Lower Crop Prices, Currency Effects Hit Adama Results

Revenue fell 4.7% to $866.7 million, from $909.7 million a year earlier.

Americas

Arysta Pesticides Receive Updated Labels

The U.S. Environmental Protection Agency has approved a supplemental labels for Arysta LifeScience North America’s Royal MH-30 XTRA and Royal

Americas

Monsanto Looks to Sell Seed Business: Reuters

Monsanto’s bid to buy Syngenta might hinge on whether Monsanto is able to sell its seed business, according to a

Americas

Bayer CropScience Opens Breeding and Trait Development Station

Bayer CropScience has officially opened its Beaver Crossing Breeding and Trait Development Station near Lincoln, Nebraska. The $17 million research and development

Americas

USDA: Summer Honey Bee Losses Pass Winter Losses for First Time

Bayer responds to report.

Americas

Platform Specialty Products Posts Wider Loss

Its net loss widened to $26.3 million, or 14 cents a share, from $5.9 million, or 7 cents a share in the year-ago period.

Americas

Lower Insect Pressure, High Inventory in Brazil Hit FMC

FMC Agricultural Solutions reported sharply lower revenue and earnings in the first quarter, as it was hurt by weakened demand

China

Shandong Luba’s 50% Paraquat SG Obtains Production Approval Certificate

It is expected that the product will be marketed in late March 2015

Crop Inputs

EU Study Raises Concern on Parallel Import Regulations for Pesticides

Crop Protection Association welcomes a new study recommending a review of the parallel import regulations for pesticides.

Latest News

Africa

Algeria’s Reforms to Lift Agchem Market

The desire by North Africa’s hydrocarbon-rich Algeria to increase the contribution of its agriculture to the country’s economy and to

Africa

Algeria’s Reforms to Lift Agchem Market

Country has launched major changes in land management and investment in agricultural sector, raising hopes of increased use of quality farm inputs.

Adjuvants

CPDA ‘Optimistic’ U.S. Regulators Will Amend Re-Labeling Rule

Dr. Susan Ferenc, president of the Council of Producers & Distributors of Agrotechnology, is “optimistic” that U.S. regulators will provide some discretionary relief in requiring distributors to re-label certain non-pesticide agrochemical products

Americas

Label Updates Announced for EVEREST 2.0 Herbicide

Canada’s Pest Management Regulatory Agency has approved label updates for Arysta LifeScience North America’s EVEREST 2.0 Herbicide. The new registration includes

Crop Inputs

Sipcam to Evaluate Two Products From Eden Research

Eden Research plc, a natural micro-encapsulation company, signed an Evaluation Agreement with Sipcam Italia Spa and Sipcam Iberia (Sipcam, a Sumitomo-related