BASF posts flat agrochem sales in the first-half year

BASF’s Agricultural Solutions segment posted flat sales in the second quarter of 2011, decreased to€1,205 million (€1,211 million in Q2 2010). Sales in volumes increased by 6%, volumes grew particularly in fungicides business. With stable sales prices, sales reached the good level of the previous second quarter despite negative currency effects. Although weather conditions in Europe and North America were unfavorable, earnings were slightly above the level of the same period of the previous year. The first half year sales grew by 3% to €2,435 million (€2,356 million in the first half year of 2010).

Sales in Europe exceeded the level of the previous second quarter despite the dry weather in Western Europe because of the strong demand in Eastern Europe. The weaker U.S. dollar was particularly responsible for the decline in sales in North America. In addition, flooding resulted in a decrease in cultivated acreage, which led to lower demand for herbicides. In contrast, sales volumes of fungicides increased.

Sales in South America increased due in part to good demand for herbicide tolerance technology Clearfield  as well as for insecticides for sugarcane and seed treatment.

In Asia, sales were considerably above the level of the second quarter of 2010, which was mainly attributable to the positive development of the herbicide business.