Chinese glyphosate national standard to come into effect soon

China’s new national standard for glyphosate solution and powder shall come into effect from December 1, 2017, with Wynca playing a key role in the drafting. The implementation of the new standard will pave the way for an effective regulation of the glyphosate formulation market.

Currently, glyphosate is enjoying peak season, with its price continuing to rise month on month owing to the shortage in production.

Due to the sustained large volumes of pesticide exports from China, constant environmental pressure and the apparent rise in the cost of raw materials, the glyphosate industry sector may have longer periods of prosperity, which will bring in positive business performance for the industry players.

Open data have revealed continued price rise of glyphosate. Glyphosate price is currently Yuan29,000 per ton (referring to the 95% powder price of East China), which is a rise of Yuan2,500 per ton compared with the price in September, owing to the upcoming peak season and the rise in cost. On the other hand, the monthly average price will also go up with the upcoming peak season. The market price was on an average Yuan26,855 per ton in East China in October 2017, 36.3% up year on year and 5.4 %percent up month on month.

Among the 10 listed glyphosate enterprises, nine of them achieved an increase in profits, attributable to shareholders in the first three quarters.