Insecticides China Monthly Report

The net profit of most pesticide companies increased in 2013 and some companies even witnessed large increase in net profit. For example, Jiangsu Changqing Agrochemical Co., Ltd. (Jiangsu Changqing) predicted that its revenue and profit all increased by more than 20% in 2013 YoY. Hubei Sanonda Co., Ltd. (Hubei Sanonda) predicted to realize its net profit up by 200%-230% YoY. Nantong Jiangshan Agrochemical & Chemicals Co., Ltd. (Nantong Jiangshan) predicted to realize the net profit of RMB300 million in 2013, up by eight times YoY.

Looking forward to 2014, the domestic pesticide market will be optimistic, mainly due to relatively high possibility of serious outbreak of pest and disease, as well as the improvement of disorder market competition, etc. Besides, according to the General Administration of Customs of the People's Republic of China (GAC), China exported 1.10 million tonnes of pesticides in the whole year of 2013, up by 22.1% YoY and the export value reached USD3.75 billion, up by 31.0% YoY. The export volume and export value of insecticides was 224,600 tonnes and USD908.14 million, up by 16.9% and 17.7% respectively in 2013. It's predicted that the export volume and value will continue to increase and the agrochemical enterprises especially those listed companies will achieve better performance in 2014 with the improvement of the international situation.

Note: All tables and figures in this issue are calculated with the same RMB/USD exchange rate (1USD=6.099RMB).