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Biodiesel is expensive than fossil fuels because of higher raw material and production costs.
Armstrong said sales fell 8.8percentto to $659.1 million from $722.8 million, because of higher raw material costs.
In a Jan . 17 , 1996letter from Lee Connolly, Goodyear's director of tire sales, to C.J. Hole, a Ford purchasing director, Goodyear said it needed a price increase from Ford because of higher raw material costs.
Shares of Sherwin Williams dropped $1.63, to $22.25, after the company, a paint maker, said quarterly earnings would not meet Wall Street expectations because of higher raw material costs and tough competition.
BHP, the world's largest mining company, said profit for the year ended June 30 more than doubled, to $12.7 billion from $5.9 billion, because of higher raw material prices.
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Corus makes it at $540 a ton, mainly because of high raw material costs.
Export prices are also rising because of higher commodity, raw material and labor costs.
— The Ford Motor Company on Tuesday said second-quarter earnings declined 7 percent, to $2.4 billion, from the period a year earlier, largely because of higher costs for raw materials and new product development.
The retailers Gap Inc. and Aeropostale each lost more than 14 percent after cutting their profit forecasts for the year, in part because of higher costs for raw materials.
The Dow Chemical Company, the nation's second-largest producer of chemicals, said yesterday that its first-quarter net income plunged almost 38percentt because of higher costs for raw materials and lower prices for some products.
BHP Billiton slid by 3.4%, to 42.89 Australian dollars ($40.85), after Credit Suisse cut its forecasts for Alcoa and Century Aluminum because of higher energy and raw materials costs.
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