CropLife e-News

DuPont Reports Profit

Like other basic crop protection manufacturers in recent weeks, DuPont is reporting a sales increase during the first quarter of 2008 and expects continued success.

DuPont Co., the third-biggest U.S. chemical company, says its first-quarter profit rose 26 percent to $1.19 billion as record grain prices boosted sales of crop protection products and genetically modified corn and soybean seeds. The agriculture unit accounted for one-third of DuPont’s sales in the first quarter.

Soybean sales in the U.S. may be ``very strong'' in the second quarter, say company officials. The company is investing in its Pioneer unit, the world's second-largest seed producer, to challenge Monsanto Co.'s lead in sales.

(Source: Bloomberg)