China's Hebang to step into glyphosate business

On 10 September, Chinese company Hebang announced that it would invest Yuan 501 million to build a glyphosate production facility with an annual capacity of 50000 tons. So far the production technology and equipment procurement have been completed, and the construction will take 1 year.

According to the present market price of glyphosate, the company expects an annual sales income of Yuan 2 billion with pretax profit of Yuan 276 million. Upon start of production, the company may purchase PMIDA as raw material from another Chinese company Shuncheng Chemical, its jointly-controlled company.

Since the H1 2013, the price of glyphosate technical has been going up all the way up to above Yuan 45,000 per ton, having attracted the presence of more enterprises in the glyphosate industry. Up until 22 August 2013, China has approved 686 glyphosate-oriented registrations including 139 glyphosate technical registrations, with a total of 67 fully licensed enterprises in operation. Latest statistics information shows that 22 glyphosate enterprises have started their production activity as of September.