Glyphosate to lift Nantong Jiangshan's H1 profits
An upturn in China's glyphosate herbicide industry has prompted Chinese company Nantong Jiangshan Agrochemical and Chemical to issue a first-half profit forecast of Yuan 5-6 million ($800,000–950,000). The company made a loss of Yuan 23.4 million ($3.7 million) in the same period last year. Prices of glyphosate, the company's main product, have been driven up by a combination of factors, including favourable exchange rates, the company notes. In the first quarter, Nantong Jiangshan saw sales increase by 7.8% to Yuan 639.4 million ($101.2 million), while posting a loss of Yuan 4.7 million ($744,000 - Agrow No 642, p 2). The China Crop Protection Industry Association (CCPIA) believes that the period of integration and adjustment for China's glyphosate industry is nearing its end. After three years of low returns, China's glyphosate producers have either fallen by the wayside or optimised their businesses, with over-supply and stockpiling all but eliminated, the Association commented.