In early March, 2022, the ex-works prices of most fungicides in China showed a continued downward trend from the previous month. Owing to unsettling international landscape, the price of crude oil increased, which pushed up the price of basic raw materials. However, and fungicide TC manufacturers didn't receive much orders since the demand was low. As a result, the overall price of fungicides showed a downward trend.
In terms of company dynamics, it was revealed in early March that Shanghai High Victory's "1,500 t/a formulation project", which is built to develop the company's business of metconazole formulation end-products, has been put into trial production. So far, the company has only got its 200 t/a paclobutrazol TC and 5000 t/a chloropivaloyl chloride production lines back up and running. Jiannong Plant Protection stated that the idled capacity is all in the company's plan for resumption. On 11 March, it's agreed that Grand Plant Protection, a wholly-owned subsidiary of Grand Holding, will become the transferee of a novel biopesticide technology from NEAU. Specifically, the university will exclusively transfer its decoyinine technology (including registration certificates and the patents on the TC and formulation) to Grand Plant Protection.
In terms of policy, MEE issued the Opinions on Strengthening Control of Heavy Metal Pollution on 7 March, 2022. On 21 March, the Ministry of Emergency Management (MEM) unveiled a plan on strengthening safe production of hazardous chemicals over the 14th Five-Year Plan period (2021-2025)
In terms of registration, totalling 90 fungficides are approved for renewing registration in China
The USD/CNY exchange rate used is USD1.00=CNY6.3014 on 1 Mar., 2022, sourced from the People's Bank of China. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
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