Welcome to the September issue of Sweeteners China News published by CCM, a professional consulting company which has been extensively and intensively focusing on the dynamics of China's sweetener industry.
In August 2013, some sweetener producers in China released their semi-annual reports, showing their poor performance in H1 2013. For example, Luzhou Bio-chem suffered a loss of USD8.71 million in H1 2013, which was the first time the company reported a net loss since 2010. And a dramatic revenue decrease of GLG's stevia sweetener business in Q2 2013 resulted in a decrease in the company's total revenue in H1 2013 accompanied by an increase in net loss.
The poor performance of domestic sweetener producers in H1 2013 also reflected a downturn of the sweetener industry in China. Unfortunately, it is predicted that the gloomy outlook will still exist in H2 2013. Take China's starch sugar industry as a typical example. The operating rate of the industry at the beginning of H2 2013 was lower compared with that in the same period of 2012. Under the decreasing price pressure of sucrose in China, most of the domestic starch sugar producers will have negative prospects in H2 2013.
It is estimated that some sweetener producers in China plan to or are strengthening their competitiveness. For instance, Zhaoqing Coruscate established a cooperation in research on starch sugar with a university to heighten its competitiveness from August 2013 onwards. Similar cooperations between companies and universities may further increase.
To be noticed, the USD/RMB exchange rate is 6.18 in this issue, and all the prices mentioned in this newsletter include the VAT unless otherwise specified. If there are any specific topics you would like us to cover or any subjects you would like us to investigate in more details, please contact us by +86-20-3761 6606, or econtact@cnchemicals.com.
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