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Glyphosate purchase orders to be implemented up to April 2022, says Xingfa Group
Jan. 18, 2022
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ChinaA management staff of China’s Xingfa Group recently disclosed that the company’s glyphosate purchase orders have been scheduled for implementation up to April 2022.
Due to the tight glyphosate market, the price of glyphosate has soared since 2021. On December 31, 2021, the average price of the Chinese mainstream market was around Yuan80,000 per ton, which is a sharp increase of 185% yearly, compared to the price that was less than Yuan28,000 per ton at the beginning of 2021.
The 2021 performance forecast disclosed recently by Xingfa Group reveals a significant rise in the selling price of glyphosate, which contributed to the Group’s high profitability year on year, having reached a profit increase of 573% - 605% in 2021. According to the 2021 semi-annual report, the Group possesses an annual capacity of 180,000 tons of glyphosate, ranking first in China.
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