Glyphosate
In August, glyphosate TC producers tried to raise the price, while the traders tended to sell their goods at low prices. Purchasers have changed from active purchasing to a wait-and-see attitude. The ex-works price of glyphosate in August also saw a trend of rising and then falling. In Aug., 52 pesticide registration renewals for glyphosate products were approved, 10 of which are TC.
In terms of company danamics, glyphosate TC producers were cautious in producing and ran at a low operating rate, averaging at about 52% in Aug. For the future glyphosate market, the producers still have great confidence: Hubei Xingfa Chemicals Group Co., Ltd. believed that with the arrival of the procurement season in the southern hemisphere in Q3, the demand for glyphosate is expected to grow, and the industry will return to a normal and healthy development trend; Anhui Shengli Pesticide & Chemistry Co., Ltd. proposed to build new heating facility for glyphosate production; Nantong Jiangshan Agrochemical & Chemicals Co., Ltd. also proposed JS-T205 herbicide TC project and glyphosate-containing formulation capacities.
In terms of policy, China has been promoting the development of GM crop cultivation, and at the end of August, China's agricultural authorities announced the progress. China's Ministry of Agriculture and Rural Affairs believes that biological breeding, represented by transgenics technology, is a revolutionary technology in the field of breeding and a new area that must be seized.
The USD/CNY exchange rate used is USD1.00=CNY7.1283, sourced from the People's Bank of China on 1 Aug., 2023. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
In terms of company danamics, glyphosate TC producers were cautious in producing and ran at a low operating rate, averaging at about 52% in Aug. For the future glyphosate market, the producers still have great confidence: Hubei Xingfa Chemicals Group Co., Ltd. believed that with the arrival of the procurement season in the southern hemisphere in Q3, the demand for glyphosate is expected to grow, and the industry will return to a normal and healthy development trend; Anhui Shengli Pesticide & Chemistry Co., Ltd. proposed to build new heating facility for glyphosate production; Nantong Jiangshan Agrochemical & Chemicals Co., Ltd. also proposed JS-T205 herbicide TC project and glyphosate-containing formulation capacities.
In terms of policy, China has been promoting the development of GM crop cultivation, and at the end of August, China's agricultural authorities announced the progress. China's Ministry of Agriculture and Rural Affairs believes that biological breeding, represented by transgenics technology, is a revolutionary technology in the field of breeding and a new area that must be seized.
The USD/CNY exchange rate used is USD1.00=CNY7.1283, sourced from the People's Bank of China on 1 Aug., 2023. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
Headline 1
Editor's note 3
Market analysis 4
Behind rally in glyphosate TC prices hide worries 4
Ex-works price of yellow phosphorus rises in Aug. 4
Ex-works price of Chinese glyphosate TC keeps falling in Aug. 5
China forecasts high risk of flooding in parts during Aug. 6
Company and supply 8
Operating rate of glyphosate TC producer may remain low in Sept. 8
Operating rate of glycine producer expected to stabilise from uptrend 9
Policy 11
Hainan revises Provisions on Pesticide Management in Hainan Special Economic Zone 11
China advances industrialisation of biological breeding 12
Registration 14
52 glyphosate products approved for registration renewal in Aug. 14
Trade analysis 16
China's glyphosate TC exports drop YoY sharply in May–June 16
Brief news 19
Xingfa Group bullish on demand growth for glyphosate 19
Sichuan promotes energy saving and green development of phosphorus chemical industry 19
International oil supply may shrink on production cuts and Russian pipeline leaks 19
Anhui Shengli to build new heating facility for glyphosate production 19
MARA establishes 10th National Pesticide Registration Review Committee 20
Henan HDF suffers YoY profit loss in H1 on slumping glyphosate sales 20
Nantong Jiangshan to build JS-T205 herbicide TC and glyphosate-containing formulation capacities 20
Zhejiang Wynca drops acquisition of phosphate mine and yellow phosphorus assets 20
GM corn trade dispute between US and Mexico escalates 21
Hebang Biotechnology to build new glyphosate production line outside China 21
Price update 23
Ex-works prices of glyphosate TC in China, the first half of August, 2023 23
Ex-works prices of DEA in China, 25 August, 2023 34
Ex-works prices of PMIDA in China, 25 August, 2023 35
Ex-works prices of glycine in China, 25 August, 2023 35
Ex-works prices of IDAN in China, 25 August, 2023 36
Ex-works prices of phosphorus trichloride in China, 25 August, 2023 36
Ex-works prices of isopropylamine in China, 25 August, 2023 37
Editor's note 3
Market analysis 4
Behind rally in glyphosate TC prices hide worries 4
Ex-works price of yellow phosphorus rises in Aug. 4
Ex-works price of Chinese glyphosate TC keeps falling in Aug. 5
China forecasts high risk of flooding in parts during Aug. 6
Company and supply 8
Operating rate of glyphosate TC producer may remain low in Sept. 8
Operating rate of glycine producer expected to stabilise from uptrend 9
Policy 11
Hainan revises Provisions on Pesticide Management in Hainan Special Economic Zone 11
China advances industrialisation of biological breeding 12
Registration 14
52 glyphosate products approved for registration renewal in Aug. 14
Trade analysis 16
China's glyphosate TC exports drop YoY sharply in May–June 16
Brief news 19
Xingfa Group bullish on demand growth for glyphosate 19
Sichuan promotes energy saving and green development of phosphorus chemical industry 19
International oil supply may shrink on production cuts and Russian pipeline leaks 19
Anhui Shengli to build new heating facility for glyphosate production 19
MARA establishes 10th National Pesticide Registration Review Committee 20
Henan HDF suffers YoY profit loss in H1 on slumping glyphosate sales 20
Nantong Jiangshan to build JS-T205 herbicide TC and glyphosate-containing formulation capacities 20
Zhejiang Wynca drops acquisition of phosphate mine and yellow phosphorus assets 20
GM corn trade dispute between US and Mexico escalates 21
Hebang Biotechnology to build new glyphosate production line outside China 21
Price update 23
Ex-works prices of glyphosate TC in China, the first half of August, 2023 23
Ex-works prices of DEA in China, 25 August, 2023 34
Ex-works prices of PMIDA in China, 25 August, 2023 35
Ex-works prices of glycine in China, 25 August, 2023 35
Ex-works prices of IDAN in China, 25 August, 2023 36
Ex-works prices of phosphorus trichloride in China, 25 August, 2023 36
Ex-works prices of isopropylamine in China, 25 August, 2023 37
