Glyphosate China Monthly Report

In June, China's glyphosate market revived slightly in early the month, with weakened demand and increased freight rate, but still showed a cooling trend since mid-June. In terms of production, the operating rate of glyphosate TC producers in China was roughly 60%. In terms of raw materials, the price of glycine market continued at a low level in the field in the first ten days of a month. yellow phosphorus market price first weakly downward, then slightly upward.

In terms of policy, notably, China issued the Catalogue of Encouraged Industries in Western Region (Draft) for public comments, which is a revision based on the current edition. The western regions mentioned in the document include Chongqing, Sichuan, Guizhou, Yunnan, Tibet Autonomous Region, Shaanxi, Gansu, Qinghai, Ningxia Hui Autonomous Region, Xinjiang Uygur Autonomous Region (including the Xinjiang Production and Construction Corps), Inner Mongolia Autonomous Region, and Guangxi Zhuang Autonomous Region.

On 4 June, China issued the Implementation Plan for the Building of the Carbon Footprint Management System, which called for the establishment of a unified carbon footprint management system and the development of electricity, coal, natural gas, Fuel oil and other key products.

In terms of corporate news, Ningxia Lantian Agricultural Development Co., Ltd. disclosed the patent of glyphosate compound herbicide. Zhejiang Wynca Chemical Industrial Group Co., Ltd. announced the EI assessment publicity of glyphosate powder technical reform. Runfeng signed the Strategic Co-operation Agreement with Sichuan Hebang Biotechnology Co., Ltd.

The USD/CNY exchange rate used is USD1.00=CNY7.1086, sourced from the People's Bank of China on 3 June, 2024. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.