Five Chinese companies exit pesticide market
Five agrochemical companies have “voluntarily given up” their pesticide production businesses and left the Chinese market so far this year, reports the country’s Ministry of Industry and Information Technology (MIIT). All five have done so with the assistance of other chemical companies. The MIIT has published their details in a bid to promote industry consolidation. The companies were relatively small-scale manufacturers of pesticide formulations. Chinese analysts believe that the country will miss its industry consolidation target of cutting the number of pesticide companies by 30% between 2011 and 2015.