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Record 2008 for agchem companies in Zhejiang, China

Agrochemical companies in China’s eastern province of Zhejiang made a combined profit of Yuan 3,325 million ($488 million at the current rate) in 2008, over double the previous year’s figure, reports the national newspaper, AgriGoods Herald. It was also the first time they had ever exceeded the Yuan 3,000 million ($440 million) mark, the newspaper adds. Although the production, sales and export volumes of the province’s 37 active ingredient manufacturers all declined from 2007 levels, the rise in the market price of the herbicide, glyphosate, led to increased profits for the Zhejiang’s agrochemical industry.

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