Herbicides lift Yangnong in H1 2012
Chinese agrochemical company Jiangsu Yangnong Chemical recorded a 26.4% jump in sales to Yuan 1,214.3 million ($191.3 million at the current rate) in the first six months of 2012. While sales in the company’s largest product category, insecticides, rose by 4.7% to Yuan 727.7 million ($114.7 million), herbicides were the main growth driver, up 88.5% to Yuan 429.9 million ($67.7 million). Domestic sales fell by 13.9% to Yuan 395.9 million ($62.4 million), whereas exports shot up 63.3% to Yuan 818.3 million ($128.9 million) in the period. Agrochemical manufacturing costs outpaced sales growth in the first six months, increasing by 27.5%. Profit margin in the insecticide category fell by 0.7 percentage points, while increasing by 5.4 percentage points in herbicides.