North American Crop Protection Sales Drive BASF Profit

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

Agrichemicals

Arkansas Plant Board Backs 2018 Regulatory Changes for Dicamba

The Board’s regulatory changes concerning the use of dicamba will now be subject to a 30-day public comment period which will be followed by a public hearing that will be held on Nov. 8.

Agrichemicals

Univar Acquires Tagma Brasil

Tagma formulates more than 200 registered crop protection products and provides conception and preparation of new formulations; adaption of existing formulations; and technical assistance with processing and regulatory requirements.

Agrichemicals

How AgroStar Is Leading the Way to Simplify India’s Distribution

The start-up and innovative disruptor talks to AgriBusiness Global about how its farmer-facing app is changing distribution in India.

India-crop-protection-application
Asia

Agrichemical Companies in South India Better Positioned for Growth

The profitability of agrichemicals companies that have operations in south India is likely to stay better than those of industry

Asia

Ag Software Firm Agrian Expands to Australia

In line with a familiar growth trajectory, Agrian Inc. is moving into Australia with a physical support and sales presence to meet new market opportunities.

Africa/Middle East

Marrone Bio Innovations Signs Distribution Agreement in North Africa

ÉLÉPHANT VERT, which has 300 employees in five countries in Africa and Europe and develops and markets organic amendments, biofertilizers, biostimulants and 100% natural biopesticides made in four production units, will develop and market two of MBI's products in Morocco, Tunisia and Algeria:

Markets

Survey: Global Adoption of Precision Agriculture

John Deere’s recent acquisition of Blue River Technology and its “See & Spray” application technology suggests another major change in

Agrichemicals

Bayer Sees Brazil ‘Returning to Normal in 2018’; Reveals R&D Plans

Liam Condon presents at the company’s Future of Farming Dialog 2017 on Sept. 18-20.

Agrichemicals

Thailand Proposes to Ban Paraquat, Chlorpyrifos by 2019

CropLife Asia issues statement.

Asia

Israel, China Sign $300 million AgTech Trade Agreement

Israel and China have signed a $300 million trade agreement meant to boost the export of Israeli environmental-friendly energy and

Africa/Middle East

Liberia: Agro-dealers Cautioned on Safe Use of Inputs

The president of the National Agro-dealers Association of Liberia (NADAL) has cautioned agro-dealers in the country on the proper use

Asia

Is China Ready to Reshape Global Agriculture?

During the spike in global grain prices a decade ago, Chinese officials urged agribusinesses to secure farmland overseas to fill

BRICS-leaders
Asia

Expert: Cooperation in Agriculture Will Boost Trade Among BRICS Nations

Sharing best practices in agriculture among the five BRICS countries can address the issue of food security, a leading Indian

Agrichemicals

BASF Bids on Bayer Seed Assets – Reuters

DowDuPont and Syngenta AG are also competing for Bayer’s canola, cotton and soybean seed varieties, as well as the Liberty herbicide system.

Americas

Bayer, Gingko Bioworks Create Company Focused on Microbiome

The deal provides a Series A investment of $100 million by its parent companies and Viking Global Investors LP.

Asia

CropLife Asia Committed to Empowering Thailand Farmers

Following today’s press conference conducted by the Thailand Department of Agriculture indicating next steps with regards to its review of

Agrichemicals

Dow Expands Enlist System with Addition of Enlist One

With the ability to tank-mix with glufosinate, farmers can use Enlist One in their weed control programs that feature multiple modes of action.

Europe

Bayer, IMBB-FORTH Partner to Tackle Insect Pests, Protect Crops

This collaboration will seek to reveal key aspects of insect gut physiology and discover novel targets for the development of insect control solutions.

Africa/Middle East

‘Big Three’ Donors Team Up to Boost African Ag Transformation

Three of the biggest funders of African agricultural transformation have launched a new $280 million partnership at the 2017 Agricultural Green Revolution Forum in Abidjan.

Latest News

Agrichemicals

FMC Corp. Receives Clearances to Acquire DuPont Crop Protection Assets

FMC Corp. has received approval from the Competition Commission of India (CCI) for the proposed acquisition of a significant portion

Agrichemicals

Arkansas Plant Board Backs 2018 Regulatory Changes for Dicamba

The Board’s regulatory changes concerning the use of dicamba will now be subject to a 30-day public comment period which will be followed by a public hearing that will be held on Nov. 8.

Agrichemicals

Univar Acquires Tagma Brasil

Tagma formulates more than 200 registered crop protection products and provides conception and preparation of new formulations; adaption of existing formulations; and technical assistance with processing and regulatory requirements.

Agrichemicals

Cropchem Obtains Registration for Three Formulations in Brazil

Cropchem, a Brazilian company specialized in the distribution of pesticides in the Brazilian market, has obtained the final registration for

Agrichemicals

How AgroStar Is Leading the Way to Simplify India’s Distribution

The start-up and innovative disruptor talks to AgriBusiness Global about how its farmer-facing app is changing distribution in India.