The Chinese glyphosate industry continued its downturn in 2010

The Chinese glyphosate industry is still in dilemma due to the severe overcapacities. In the year of 2010, the technical ingredient has result in an export decrease of 17% to $670 million and a 14% down to 223,100 tons on a yearly base.

Regarding the glyphosate importers, the largest buyer from China was took over by Argentina, with its import growth of 9% to $ 176 million , took a 25% proportion in China’s overall importers. United State was the largest buyer in 2009, it has taken the second place by reduced 56% of the import to $ 104 million, and its proportion in importers was 15%. Malaysia becomes a loyal fans of China by its constant import growth in recent three years and taken a proportion of 7%.

But for the consecutive slump of volume in the final months of 2010, there would be an even more decline in export price, which made Chinese manufacturers in a tight spot. Wynca, the largest producer in China, though announced its annual revenue growth of 12.9% to 4.3 billion Yuan, posted a 43% decline in its net profit to 167 million Yuan. Nantong Jiangshan, another Chinese glyphosate manufacturer, escaped from net loss thanks to receiving a 140 million Yuan special grant from local government. Redsun posted the largest decline in total profit of 99% and Anhui Huaxing, a net loss of 127million Yuan respectively.

The appreciation of Yuan, rising cost in production(Agronews 2011-01-18), tax rebate cancellation(Agronews 2010-06-24) and energy-saving policies imposed by the government and trade friction such as anti-dumping probe (Agronews 2010-05-31) have made Chinese glyposate industry in a worsening situation. Though more glyphosate-tolerated crops being planted and commodity price on the rising, the former cash cow might not able to reappear its splendor.

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