Latin American Insecticide Sales Boost DuPont Profit
28 January 2014 DuPont reported a sharply higher fourth-quarter profit for its agriculture business on higher insecticide, fungicide and seed sales.
Agriculture operating earnings were $88 million compared to a seasonal operating loss of $77 million in the year-ago period. DuPont cited strong sales of its Rynaxypyr insecticide in Latin America, earlier seed shipments for the Brazil safrinha corn season enabled by recent investments and earlier direct seed shipments to North American farmers, partially offset by negative currency impact.
The company’s agriculture sales jumped 18% to $1.8 billion in the quarter, more than any other of its businesses, driven by 14% gain in volume.
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