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Crop Protection China News 1115 Published on August 2011

Report Summary Companies in and outside Hainan Province, including state-owned enterprises and private enterprises, are all busy preparing the bid for pesticide business licenses in Hainan Province. This is the second step of implementation of the policy, namely Implementation Measures of Hainan Province Pesticide Wholesale and Retail Business License Management Regulation (Trial). Intense competition among different types of companies has shown up even from the first beginning. Some large state-owned pesticide companies in Hainan Province which are supported by local government are expected to win pesticide business licenses in the first place, namely Hainan Agricultural Production Materials Co., Ltd., Haiken Agriculture Materials Co., Ltd., However, owing to the involvement of SinoChem Corporation and some co-founded companies established by small pesticide companies in Hainan Provinces which don't have qualification to attend the bid by their own, the results become complicated and difficult to determine.

State-owned enterprises and private enterprises are all busy preparing the bid for pesticide business licenses in Hainan Province in late Aug. 2011. RMB currency rate against USD rises to a new record high of 6.4399 on Aug. 1, 2011. Sale on credit, a very common phenomenon in domestic agricultural material business, has become a sore point to domestic agricultural material dealers. Davinci Furniture scandal alerts domestic agriculture material dealers to change their business concept into developing products with better quality rather than cheating. EC formulations will still play an important role in domestic market in the near future. After more than eight months' waiting, Nanjing Redsun finally received the formal approval on its M&A with NFP Group from CSRC on 29 July 2011. Noposion's net profit in H1 2011 witnesses increase of 52.07% YOY. China has been popularizing trichogramma wasps to control crop pests. Corn price hits record high in recent years.

Table of Content Companies fighting to seize Hainan pesticide market RMB appreciation bothers domestic pesticide industry Credit sale: a sore point to domestic agricultural material dealers

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>> Get this Report Now by email! Davinci Furniture scandal alerts domestic agriculture material industry Future for EC formulations in China Nanjing Redsun, NFP Group: M&A settled Noposion net profit up 52.07% in H1 2011 China to popularize trichogramma wasps for crop pest control Corn price hits record high Companies Mentioned Shenzhen Noposion Agrochemicals Co., Ltd., Nanjing Redsun Co., Ltd., Nanjing First Pesticide Group Co., Ltd.

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Crop Protection China News 1115