Chinese producers are plagued by the glyphosate

Date:12-17-2010

The irrational expansion of glyphosate has eventually hurt the Chinese producers.

Nantong Jiangshan, China’s largest glyphosate producer after Wynca, announced last week that it has received 140 million Yuan from Nantong Municipal Bureau of Public Finance, the receipt will be included in its 2010 FY statement of profit and loss, the company posted a net loss of 58.05 million Yuan in first three quarters this year.

The oversupply stimulated by price boom in 2008 forced prices to historically low levels in 2009. Though signs of some recovery has been showed recently, many Chinese producers are still suffering from this unprofitable product.

The leading Chinese pesticide company Wynca, with its revenue of 1.7 billion Yuan in the first half of 2010 was largely due to its organosillicon business.

Anhui Huaxing, a large glyphosate producer, though achieved its revenue of 486.3 million Yuan, was in quandary with its -72.4 million Yuan’s net cash flow.

Sanonda, another glyphosate manufacturer in Hubei, gained its net profit of 12.41 million Yuan by its materials chemistry and refine business.

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