Spending for Agricultural Chemicals and Fertilizers Increases Momentum

SUGAR LAND--May 9, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Earlier this year Industrial Info reported tracking nearly $370 million in future capital and maintenance spending in the agricultural chemicals segment of the Chemical Processing Industry (CPI) in the United States and Canada. That number has soared over the last few months, reaching an estimated $570 million with several large new projects identified by Industrial Info as part of its North American Project Database. This increase in spending is driven by domestic demand for fertilizers, pesticides and herbicides to support increased farm plantings in the United States for the biofuel industry, which continues to gain strength.