BASF's Asia business could dip further -paper

FRANKFURT, May 11 (Reuters) - German chemical company BASF's (BASF.DE: Quote, Profile, Research) business in Asia could see a further decline after sales from the region fell 34 percent in the first quarter, the head of its Asian business told a German newspaper.

"(Rather than a trough,) I think it's more likely that we will see a dip again in the next few months... For instance, when unemployment rises further in the West and consumption falls," Martin Brudermueller was quoted as saying by Frankfurter Allgemeine Zeitung in a statement quoting an interview.

Asia, which accounts for almost 20 percent of BASF's revenue, remains "extremely" dependent on exports and growth in the rest of the world, Brudermueller said.

Prices for BASF's products in Asia have dropped as much as 30 percent and look set to stay down, weighing on margins, Brudermueller was also quoted as saying. (Reporting by Ludwig Burger; Editing by Dan Lalor)