Agricultural Business Grows 15% at BASF

April 30, 2015 01:48 PM
Agricultural Business Grows 15% at BASF

The market for farm machinery may be contracting right now, but farmers in the U.S. and Europe are continuing to invest in BASF's seed and crop protection offerings.

At BASF, a German company that also produces and markets chemical products in the U.S., agricultural solutions revenue rose 15% in the first quarter to 1.9 billion British pounds, or $2.9 billion at today’s exchange rates.  

“In Europe, sales were considerably higher than in the same quarter of the previous year. We observed high demand earlier than expected, particularly for cereal fungicides in western Europe. Our business was very positive, especially in the United Kingdom and Germany. We were able to more than compensate for negative currency effects by increasing volume and prices,” BASF said in its quarterly filing. “Sales rose considerably in North America, as well, largely supported by the strong U.S. dollar. We increased volumes and prices for herbicides, especially in our Kixor and dicamba businesses.”

BASF Corp. offers fungicides, herbicides, insecticides, seed enhancements and more in the U.S.  In 2014, its agricultural solutions business grew 4% and generated revenues of 5.4 billion pounds ($8.3 billion at today’s exchange rates).

Back to news




Spell Check

No comments have been posted to this News Article

Corn College TV Education Series


Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!


Market Data provided by
Brought to you by Beyer