Dow AgroSciences profit withers in fourth quarter

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Higher raw material prices helped force Dow AgroSciences profit down by nearly half in the fourth quarter its parent, Dow Chemical Co. reported today.

The Midland, Mich., chemical giant said the Indianapolis-based agriculture division turned out only $38 million in profit compared to the $74 million of a year earlier.

Strong competition in Brazil and a change in its product mix also contributed to the drop.

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