According
to Fungicide China News 1312, Lier Chemical Co., Ltd. (Lier Chemical), one
of the leading pesticide technical producers in China, recently revealed that
the company may set up a new subsidiary for the development of its pesticide
formulation business in the domestic market.
Lier Chemical started
to explore the domestic formulation market in 2006. At present, the domestic
formulation market is of great importance to the company's development. Lier
Chemical has been developing its domestic formulation business in recent years,
and has earned a reputation in the domestic market. In order to better develop
its pesticide formulation business in the domestic market, the company plans to
set a new pesticide formulation company.
According to data
from Lier Chemical's financial reports, the company's revenue from pesticide
formulations was only USD25.13 million in 2010, but it increased to USD42.60
million in 2011, thanks to the acquisition of Jiangsu Kuaida Agrochemical Co.,
Ltd. in 2010 (Jiangsu Kuaida). (Note: the revenue from pesticide formulations
in this article included both domestic and overseas business, as there were no
specific statistics for the domestic pesticide formulation business.)
In H1 2013, Lier
Chemical achieved great results from its pesticide formulation business. Its
revenue from pesticide formulations was USD43.68 million, up by 44.95% year on
year, while the revenue from pesticide technical was USD77.31 million, only up
by 13.68% year on year.
In addition to the
acquisition of Jiangsu Kuaida, Lier Chemical itself has also been strengthening
the registration and marketing of new pesticide formulations in recent years,
which contributed to the great increase in its revenue.
According to data
from the Institute for the Control of Agrochemicals, Ministry of Agriculture
(ICAMA), as of Nov. 26, 2013, Lier Chemical has got 54 pesticide formulation
registrations in China, of which 18 are fungicides (refers to those registered
under Lier Chemical only, not including those registered under Jiangsu Kuaida).
It is worth noting
that Lier Chemical has registered an increasing number of pesticide
formulations in recent years. It registered 10 pesticide formulations in 2012
and 15 as of Nov. 26, 2013 this year, of which half are fungicides.
At present, many
leading pesticide companies in China mainly focus on pesticide technical and
their revenues from pesticide formulations are very small. However, it is
expected that these companies may pay more attention to the pesticide
formulation business, with the steady increase in the domestic pesticide
formulation market value and a sharp increase of pesticide formulation export
volume.
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Fungicides
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