Welcome to Acidity Regulator Quarterly China Report-Q3 2021.
Lactic acid (LA) industry:
In Q3 2021, Pliith Biotech's 75,000 t/a LA & 50,000 t/a PLA project was kicked off, Shandong Tongbang obtained the Planning Permit on Land for Construction Use for its LA & PLA project, and Zhejiang Decheng's EIA of 10,000 t/a PLA fiber project was approved. EIA of Qiyu Biological's 100,000 t/a high-purity L-lactic acid upgrading project (100,000 t/a LA, 50,000 t/a PLA) was approved and publicized.
Jindan Technology's revenue and net profit in H1 2021 increased by 39.25% YoY and 7.55% YoY respectively. In addition, its 50,000 t/a L-lactic acid project went into pilot production on 9 Oct., 2021.
Citric acid industry:
Guoxin Union's 15% equity was transferred. Besides, it witnessed a loss of USD2.28 million from Jan.to July in 2021, mainly because of the price hike of coal.
1st stage (200,000 t/a citric acid and citrate) of Seven Stars' 500,000 t/a food additive project (Phase II ) is scheduled to go into operation by the end of June 2022.
Rizhao Goldgrain's 300,000 t/a food grade citric acid project is under construction and expected to be completed in Feb. 2022.
COFCO's revenue from citric acids and the by-products reached USD57.51 million in H1 2021, down by 1.32% YoY.
In Q3 2021, citric acid prices increased sharply, with the citric acid price ex-works price reaching USD1,548/t (RMB10,000/t) in late Sept.
The USD/CNY exchange rate in this period is 6.4604, sourced from the People's Bank of China on 8 October. Except for special instructions, all prices involved in this period include VAT.
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