BASF sells more crop protection product in Q1

In the first quarter of 2021, the German chemical company BASF saw its sales of crop protection products rise slightly compared to the same period last year. The company announced this on Friday (April 30).

In Europe, BASF sold slightly more crop protection products. The fungicides in particular performed better. The chemical company also reports that it has achieved more turnover for North America.

In addition to fungicides, the Canadians in particular have bought considerably more rapeseed seed. In Latin America and Africa, BASF even reports a significant increase in sales. This is largely due to a delayed harvest in those areas. And there is also a significant increase in sales in Asia.

Turnover up, margin smaller
BASF's crop protection products division has a turnover of €2021 billion for the first quarter of 2,8. That is 1% higher than in the same quarter a year earlier. Despite higher sales, last quarter's gross margin and gross profit remained roughly the same as in the first quarter of 2020. The group attributes this largely to currency headwinds.

Jurphaas Lugtenburg

He is a market specialist in grains and other agricultural commodities at DCA Market Intelligence. He also focuses on onions, potatoes, and roughage. Jurphaas also runs an arable farm in Voorne-Putten (South Holland).

j.lugtenburg @boerenbusiness. Nl

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