Find Hot News in Glyphsoate China Monthly Report 1309

Published on the 20^th every month, Glyphsoate China Monthly Report is a monthly publication released by CCM. It offers timely update and close follow up of China’s various kind of Glyphsoate market dynamics, analyze the market data and trends. Major columns include the latest information and in-depth analysis on market trends, supply and procurement opportunities in raw materials and intermediates, technology process, price updates, new policies and company dynamic, etc.

Following are headline news of the latest issue of Glyphsoate China Monthly Report:

Glyphosate becomes operating performance booster of Chinese pesticide companies

The thriving glyphosate market and enhancing profitability kept on in H1 2013. As for China's pesticides companies owning glyphosate or PMIDA business, glyphosate or PMIDA played a role of booster on their operating performance in H1 2013.

Sichuan Hebang to construct 50,000t/a glyphosate production project

Sichuan Hebang plans to construct 50,000t/a glyphosate production project with a total budget of USD81.81 million, and it owns the production equipment and production technique which equals to 50,000t/a glyphosate production capacity now, but there are still two main obstacles for the completion of this project.

Export volume of glyphosate technical decreases by 5.63% in July 2013 MoM

The export volumes and export prices of glyphosate technical, PMIDA and glyphosate formulations all recorded YoY growth in July 2013. The export volumes of glyphosate technical and glyphosate formulations decreased by 5.63% and 22.92% MoM respectively in July 2013.

Glyphosate technical price increases moderately in Sept. 2013

The glyphosate technical price saw a moderate increase in Sept. 2013 MoM. In the current circumstances, the ex-works prices of glyphosate products are expected to remain stable or to increase slightly in late Sept. and mid-Oct. 2013.

Operating performance comparison among Zhejiang Wynca, Nantong Jiangshan and Anhui Huaxing in H1 2013

Because of the thriving market and the rising profitability of glyphosate, Zhejiang Wynca, Nantong Jiangshan and Anhui Huaxing all achieved excellent operating performance in H1 2013. All three companies recorded double-digit YoY growth rates for their total revenue in H1 2013. The three companies' stocks also improved significantly during H1 2013. The prices of glyphosate related products are at their highest level since 2009 and are likely to be maintained throughout H2 2013. This will help the three companies maintain their strong financial performance.

Jiangsu Yangnong achieves strong profits largely due to its glyphosate business in H1 2013

Jiangsu Yangnong released its 2013 semi-annual report on 27 Aug. 2013, showing that Jiangsu Yangnong's total revenue in H1 2013 was USD261.54 million, with a growth rate of 29.95% YoY. Jiangsu Yangnong's foreign revenue was USD175.79 million (RMB1,076.49 million) in H1 2013, and this figure constituted the highest ever proportion of its total revenue for corresponding periods. This was largely due to the strong operating performance in its glyphosate business. The revenue from the glyphosate business in H1 2013 increased by about 88% over H1 2012. Almost all of Jiangsu Yangnong's glyphosate products are produced for export and in H1 2013.

Six glyphosate registrations in Aug. 2013

There were 6 registration certificates of glyphosate products in Aug. 2013. All of them were renewed registrations. Thus, there are 67 registration certificates of glyphosate products in China as of 31 Aug. 2013, among which 31 are renewed registrations.

Anhui Huaxing's revenue increases by 38.08% in H1 2013

Anhui Huaxing has become profitable once again in H1 2013. This is in contrast to the situation of H1 2011 and H1 2012, when Anhui Huaxing incurred both an operating loss and a net loss. It achieved a total revenue and operating profit of USD116.36 million and USD2.74 million respectively in H1 2013. Given that Anhui Huaxing now holds sufficient funds and that the glyphosate related products market will continue to prosper in H2 2013, Anhui Huaxing is expected to achieve a better operating performance in H2 2013.

Nantong Jiangshan's operating profit increases by 4,113.88% in H1 2013

Nantong Jiangshan's profit skyrocketed in H1 2013, with an operating profit and a net profit of USD26.84 million and USD21.43 million respectively. These strong figures were mainly due to the high sales and profitability of glyphosate related products. However, Nantong Jiangshan remained in a weak financial position in H1 2013, which was mainly attributed to its huge debt.

Zhejiang Wynca successfully turns loss into gain in H1 2013 YoY

Zhejiang Wynca successfully turned loss into gain in H1 2013 YoY. It achieved total revenue and operating profit of USD595.36 million and USD46.87 million respectively in H1 2013. With the continuance of high glyphosate products prices and the coming demand seasons from Southern Hemisphere countries, Zhejiang Wynca is expected to accomplish its 2013 revenue target of USD1,059.3 million.