Chinese pesticide industry profits up 7%
China’s agrochemical industry saw profits rise 6.5% year-on-year to Yuan 11,992 million ($1,950 million at the current rate) in the first seven months of this year. The figure was calculated from 840 Chinese companies, split between chemical pesticide manufacturers and producers of biopesticides and microbial pesticides. Total seven-month profits for the country’s chemical pesticide firms were up 7% to Yuan 10,932 million ($1,778 million), while those for biopesticide firms rose more modestly, up 2.2% to Yuan 1,060 million ($172 million). The figures were calculated by China’s National Bureau of Statistics and published by the China Crop Protection Industry Association (CCPIA). The CCPIA believes the figures show the “relatively fast speed” of the development if China’s pesticide industry.