Glyphosate lifts Yangnong in first three quarters
Chinese agrochemical company Jiangsu Yangnong Chemical recorded a 28.5% increase in sales to Yuan 2,200.6 million ($359.1 million at the current rate) in the first three quarters of the year. In 2012, Yangnong's sales increased by 20.4% to Yuan 2,218.7 million ($362 million - Agrow No 662, p 6). Net profit for the period almost doubled to Yuan 266.2 million ($43.4 million). The China Crop Protection Industry Association (CCPIA) attributes Yangnong's continued success to the rising price of its main product, the herbicide, glyphosate. The average price of glyphosate during the first three quarters rose from Yuan 35,000 ($5,700)/tonne in 2012 to Yuan 41,000 ($6,700)/tonne this year, the CCPIA notes.