Brazil to account for 20% of Rynaxypyr 2011 sales

Date:06-08-2011

DuPont expects agricultural chemical sales to Brazil to continue growing throughout 2011, with the country expected to account for 20% of the company's global sales of its Rynaxpyr insecticide, DuPont CEO said.

Brazil's agriculture industry is a major player in international commodities markets, growing 3.1% in the first quarter of 2011, according to Brazilian Census Bureau statistics released on June 3. That makes it an important target for agricultural chemical producers such as Dupont, Monsanto and Bayer AG.

DuPont introduced Rynaxpyr into Brazil two years ago, targeting it toward soybean, cotton, sugarcane, fruit, vegetables and coffee crops, said Ellen Kullman, DuPont's chairman, president and chief executive. Since then, sales of the insecticide have grown by 50% in the country, Kullman said.

"This year we expect sales of $500 million, $100 million of which will be in Brazil alone," Kullman said during a presentation to investors.