Chinese group receives green light to sell herbicide in Brazil

Chinese group Zhejiang Xinan Chemical Industrial Group announced, on Wednesday, that it received authorization from Brazilian authorities to sell its herbicide in Brazil.

 

In a conference call with investors, the company listed on the Shanghai Stock Exchange said that the decision by the Brazilian Ministry of Health will help boost its sales of the herbicide.

 

The group, based in Hangzhou, Eastern China, describes Brazil as the largest market in the world for glyphosate and is one of the largest producers of genetically modified foods.

 

According to the statement, in 2018, Brazil used 200,000 tons of this herbicide, a quarter of the world total.

 

Zhejiang Xinan said it believes glyphosate consumption will increase this year, due to the ban on the use of another herbicide, paraquat.