FRANKFURT, July 28 (Reuters) - German chemicals giant BASF said on Friday that the decline in second-quarter earnings was a result of lower prices and lower volume across its businesses but added that its agriculture division was able to increase prices.

Earlier this month, BASF reported a decline in quarterly earnings and cut its full-year earnings guidance, the latest in a string of chemical companies caught out by weak demand from industrial clients and higher interest rates.

A slew of chemical industry peers including Croda, Lanxess, Victrex, Clariant and Evonik have recently cut their earnings predictions.

Bayer, which competes with BASF in seeds and crop chemicals, this week also slashed its outlook on weak demand and as rivals making glyphosate-based weedkillers returned to market. (Reporting by Ludwig Burger Editing by Miranda Murray)