BASF Sees Decline in Quarterly Profits

By Amanda Brodhagen, Farms.com

The world’s largest chemical company – Germany’s BASF shares fell 3.97 percent to 67.09 euros Thursday at the Frankfurt Stock Exchange. Despite its fall in net profits in the second quarter, BASF held on to its targets.

BASF said that a volatile global environment would be more challenging than expected. The company makes a variety of chemicals including for plastics, paints, drugs and agriculture.

The company’s Agriculture Solutions segment performed well, with sales in agriculture increasing in the second quarter by 18%, 1.7 euros. BASF said higher prices coupled with the acquisition of Becker Underwood helped boost growth.