china agrochemical market monthly report (dec.,...

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http://www.agropages.com

China Agrochemical Market Monthly Report (Dec., 2014)

Published in January, 2015 by Agropages

http://www.agropages.com/�

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Contents

Monthly Highlights ........................................................................................................ 1 Commercial cultivation of GMO in China can be expected ................................ 1

Intensified Competition in China Market ............................................................. 1

1. Market Dynamics ....................................................................................................... 2 1.1 Crops, Pests & Diseases ....................................................................................... 2

1.2 China agchem production statistic ....................................................................... 2

1.3 China agchem trade statistic ................................................................................. 3

1.4 China’s pesticide registration watch ..................................................................... 5

1.5 Prices trends of major agchem products ............................................................... 7

1.6 Other news ............................................................................................................ 8

2. Company Dynamic .................................................................................................. 10 2.1 Product Registrations ............................................................................................. 10

2.2 Products Launch and Promotion ............................................................................ 12

2.3 Company Acquisition, Cooperation, Investment ................................................... 13

2.3.1 Company Acquisition ......................................................................... 13

2.3.2 Company Cooperation ........................................................................ 14

2.3.3 Company Investment .......................................................................... 14

2.4 Research & Development ...................................................................... 15

3. Regulations & Policies Updates............................................................................... 16

Appendix ...................................................................................................................... 18


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List of Tables

Table 1.1 Main Crops Area, Yield, and Production in China

Table 1.2 China’s pesticides production in Nov., 2014 (tons)

Table 1.3.1 China Pesticide Import (000 tons, $M)

Table 1.3.2 China Pesticide Export (000 tons, $M)

Table 1.4 25 pesticide AIs registrations in December 2014

Table 1.5.1 Average prices of 8 products in December in China market

Table 2.1 First registrations in China in recent months

Table 2.2 Company product events in China in recent months

List of Figures

Figure 1.2.1 China pesticides production in Nov., 2014

Figure 1.2.2 China pesticides production Jan.-Nov., 2014

Figure 1.4.1 Products registrations in Dec., 2014

Figure 1.4.2 Top 10 products registrations in Dec., 2014

Figure 1.4.3 Top 10 formulation registrations in Dec., 2014

Figure 1.5 Weekly & Monthly prices of 8 products in China market


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Monthly Highlights

Commercial cultivation of GMO in China can be expected

The changed attitude of Chinese government gives indication that the commercial

cultivation of GMO in China can be expected. These events include setting up rules n

GMO seeds inspection, multinationals allowed for GMO R&D in China, renewed

biosafety certificates for GMO rice and corn, and allowed GMO imports through

Bayer, Syngenta and DuPont issued in one week last December.

Intensified Competition in China Market

1. Rapid expansion of multinationals in China

There is increased number of pesticides registration by multinationals, which

dominate the markets with high valued insecticides and fungicides. These products

are usually launched for entire crop solutions. Last year, Syngenta’s fungicide product

sales in China was over Yuan 1,000 million for the first time. It seems multinationals

have speeded up their expansion in China’s agchem markets, and the competition

trend becomes intensified.

2. The intensified consciousness of cooperation between local companies

and multinationals

As the strength of China’s agchem companies is growing, more and more

multinationals intensified cooperations with local companies in R&D, registration and

sales channels. Local companies can benefit from bringing high quality products and

management concepts into China, as well as launching their competitive products

overseas.

3. The intensified resources consolidation in China agchem industry

The steps of mergers and consolidation in China agchem industry expedited. In

2013, 12 companies with products qualifications merged, while for 2014 the number

was 18. The resources consolidation is intensified continuously.


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1. Market Dynamics

1.1 Crops, Pests & Diseases

USDA updated the forecast of China crops (Dec.10, news released date)

Recently, USDA updated China’s crops data on areas of main crops, yields and

productions, as shown in the table attached. The planting area of corn is forecasted to

be slightly higher in December than in November, while lower for rice, and no

significant changes for other crops. The yield of rice increased from 6.72 to 6.81, and

the yield of other crops has no changes. The production of corn and rice both

increased as forecasted.

China’s cotton yield down 2.2% in 2014 (Dec. 17)

According to National Bureau of Statistics of China (NBS), the cotton yield in 2014

was 6,161 thousand tons, down by 2.2% compared to the last year, despite a slight

increase of 0.7% in yield per unit. Cotton’s planting area was 4219.1 thousand

hectares, down by 2.9% (126.5 thousand ha less) compared to last year, which is the

main cause of decreased yield.

The coverage rate of “China Unified Control Program” for main crops reached

30% (Dec. 30)

According to MOA, in 2014, the coverage rate of “unified control program” for main

crops (e.g. wheat, rice, cotton) has reached 30%, up 5% compared to 2013. This

program is intended to help farmers solve problems in pest and disease control in a

unified way, including lack of labor force, finding the proper control timing and

application methods, and low control efficiency. This program has already benefited

farmers greatly since its operation.

1.2 China agchem production statistic

The production of herbicides and insectides down in Nov. 2014 (Dec. 23)


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According to National Bureau of Statistics of China (NBS), the pesticides production

in November 2014 was 314,445 tons, up 2.6% compared to the same period of 2013.

The production of herbicides and insecticides both decreased, while fungicides saw an

increase of 11.94%. Herbicides accounted for 50.5% of the total production, while it

was 15.4% for insecticides, and 6.3% for fungicides.

1.3 China agchem trade statistic

China's eleven-month agchem import & export both up in 2014(Dec. 23)

Import specifics：

In the first eleven months of 2014, the total volume of imported pesticides was up

by 19.7% Y-O-Y to 82 thousand tons, with value increased by 9.2% to $691million.

During the first eleven months of 2014, the top 3 countries of China pesticide import

Table 1.2 China’s pesticides production in Nov. 2014

(tons)

Category Volume Change % Percentage

pesticides 314,445 2.6 100

-herbicides 158,686.16 -11.46 50.5

-insecticides 48,462.9 -13.63 15.4

-fungicides 19,730.75 11.94 6.3

Source: NBS

From January to November, the pesticide

production was 3,383.47 thousand tons, up 1.66%

compared to the same period of 2013. The

herbicides production was 1,626.85 thousand tons,

increased by 3.77%. The production of insecticides

and fungicides were 540.1 thousand tons and

209.22 thousand tons, respectively, both were down

in comparison with last year.


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were EU, ASEAN and Korea.

Pesticides import volume in November was flat Y-O-Y, with value down by 10% to

$44.0 million. In November, herbicide import largely dropped by 50% to 1 thousand

tons, with value down by 3% to $7.0 million. Insecticide volume was 1 thousand tons

and value dropped by 7% to $13.0 million. Fungicide volume was flat at 2 thousand

tons and value increased by 21% to $17.0 million.

Table 1.3.1 China Pesticide Import (000 tons, $M)

Category

Nov. Eleven-month

Volume Change %

YOY Value

Change%

YOY Volume

Change%

YOY Value

Change%

YOY

Insecticide 1 - 13 -7% 10 0 152 +5.5%

Fungicide 2 0 17 +21% 28 +13.0% 296 +9.7%

Herbicide 1 -50% 7 -3% 24 +18.1% 146 +1%

Total 5 0 44 -10% 82 +19.7% 691 +9.2%

Export specifics：

In the first eleven months of 2014, the export volume increased by 5.9% YOY to

1,069 thousand tons, with value up by 11.2% to $3,825 million. During the first

eleven months of 2014, the top 3 countries of China pesticide export were Africa,

ASEAN and Latin America.

Pesticide export volume in November increased by 9.7% to 79 thousand tons, with

value up by 4.9% to $279 million. In November, herbicide volume was down by 15%

Y-O-Y to 53 thousand tons, with value up by 13.2% to $163 million. The export

volume of insecticide grew by 11.1% to 16 thousand tons with value at $75 million.

Table 1.3.2 China Pesticide Export (000 tons, $M)

Category

Nov. Eleven-month

Volume Change%

YOY Value

Change%

YOY Volume

Change %

YOY Value

Change %

YOY

Insecticide 16 +11.1% 75 - 219 +4.8% 981 -16.6%

Fungicide 2 - 33.1 - 69 +4.8% 377.4 +10.2%

Herbicide 53 -15% 163 +13.2% 742 +6.6% 2,372.00 +9.0%

Total 79 +9.7% 279 +4.9% 1,069.00 +5.9% 3,825.00 +11.2%


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Glyphosate export was 44,320 tons in October 2014 (Dec. 31)

According to NBS, China’s glyphosate export was 44,320 tons, valued at $149

million. The technical export was 18,924 tons, with a value of $88.36 million, while

formulation export was 25,396 tons and 60.58 million in terms of volume and value,

respectively. The main export destinations, among the 83 countries and regions, are

Australia, Argentina, Nigeria, Brazil and US.

1.4 China’s pesticide registration watch

Total 185 pesticides registered in December

Detailed to product (AI+formulation), Thiamethoxam got the most 7 registrations,

followed by Pymetrozine, Azoxystrobin and Indoxacarb, 6 registrations respectively.

For formulation types (TC included), the top 10 types are as below:

Considering formulations and AIs,

there were altogether 185 pesticide

product registrations got approved in

December, covering 71 insecticides,

52 fungicides, 43 herbicides and

others.


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China approved 25 pesticide AIs registrations in December 2014

The Chinese Institute for the Control of Agrochemicals, Ministry of Agriculture

(ICAMA) approved the registrations of 25 pesticide active ingredients in December,

2014 (excluding the renewal of registration), covering 12 herbicides, 4 insecticides, 6

fungicides, 2 acaricides and 1 plant growth regulator.

Table 1.4 25 pesticide AIs registrations in December 2014

Common Name Formulation Common Name Formulation

Herbicides (12) Fungicides (6)

Carfentrazone-ethyl 95%TC Azoxystrobin 97%TC(2)

Clodinafop-propargyl 95%TC Boscalid 98%TC(2)

Desmedipham 96%TC Azoxystrobin 98%TC

Florasulam 98%TC Fenoxanil 96%TC

Fluroxypyr-meptyl 98%TC Insecticides (4)

Glyphosate 97%TC Carbaryl 98%TC

Imazapic 97%TC Diflubenzuron 98%TC

Metribuzin 95%TC Indoxacarb 71%TC

Nicosulfuron 96%TC Indoxacarb 71%TK

Propanil 96%TC PGR(1)

S-metolachlor 96%TC Flumetralin 98%TC

Trifluralin 96%TC

Acaricides (2)

Spirodiclofen 98%TC


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1.5 Prices trends of major agchem products

The market price of Glyphosate technical continues to fall in December, mainly due

to weak demand and the low price of upstream material. The average price dropped to

22,125 yuan/ton. The price is expected to oscillate between 21,000 and 22,000

yuan/ton. Similar situations can also be found on Butachlor technical and

Imidacloprid technical.

Table 1.5.1 Average prices of 8 products in December in China market

Catogory Product Formulation

Average

Price

(Nov.)

Average

Price

(Dec.)

Herbicides

1Glyphosate 95%TC 24,450 22,125 2Butachlor 92% TC 21500 21,125

2Acetochlor 92% TC 21,500 21,125

Insecticides

1Chlorpyrifos 97% TC 38,500 38,375 1Imidacloprid 95% TC 104,250 101,500

1Fipronil 95% TC 400,000 407,500

Fungicides 2Carbendazim 95% TC 30,000 30,000

1Mancozeb 80% TC 18,800 18,650

Note：1 real price；2 price basis 100% (Yuan/Ton)

Spirodiclofen 96%TC

Source: ICAMA


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Fig.1.5 Weekly & Monthly prices of 8 products in China market

1.6 Other news


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China’s agchem market is stable in 2014(Dec. 31)

According to MOA, China’s agchem market is generally stable. Influenced by the

adjustment of planting structure and promotion of the agchem use with high

efficiency, it is forecasted that the consumption volume in 2015 will be the same as in

2014, but with a rapid growth in seed treatment products. The development

opportunity for spraying machinery with high efficiency is expected.

The market performance in 2014 showed several traits, including shrinking market for

insecticides, stable price for fungicide, lower application volume for herbicide, and

significantly higher application volume for PGR. It is forecasted that in 2015, there is

increased need for insecticides and acaricide, decreased for fungicides and PGR, flat

for herbicides, and slightly drop for rodenticide.


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2. Company Dynamic

2.1 Product Registrations

Table 2.1 First registrations in China in recent months

Company

name Formulation AIs Valid Highlight/Note

Meiji Seika

Pharma

90% TC,10%

LD glufosinate-p

Nov. 3,

2015;

Oct.24,

2015

temporary approval,

first registrations in

China

Xi’an Xinuo 8% SO buprofezin Apr. 23,

2019

first SO product in

China

Nissan 91% TC,

33%WG metazosulfur

Oct.27,

2015

temporary approval ,

first registration in

China

Wynca 95% TC

glyphosate

dimethylammo

nium salt

Nov., 2019 first registrations in

China

Xingbai

Bioengineeri

ng

96% TC flucarbazone Nov., 2019

first registrations

among native

companies

Qingdao

Kingagroot 1% OD

0.25%

florasulam+0.7

5%

mesosulfuron-

methyl

Dec. 11,

2015

China first for

mesosulfuron-methyl

mixture formulation;

Global first for OD

formulation

Meiji Seika Pharma received approval for Glufosinate-P(Dec. 2) Meiji Seika Pharma Co. Ltd. has received temporary approval for 90% glufosinate-p

TC and its end-use product with 10% glufosinate-p LD, for the control of annual and

perennial weeds from ICAMA, which will be valid until Nov. 3, 2015 and Oct.24,


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2015, respectively. Meiji Seika Pharma is the first company who received

glufosinate-p TC and formulation registrations in China.

XI’an Xinuo received approval for 8% buprofezin (Dec. 3)

Shanxi Xi’an Xinuo Agrochemical has received approval for 8% buprofezin SO

(spreading oil) from ICAMA, for the control of rice planthopper. The registration will

be valid until April 23, 2019. This new formulation is an innovative product

independently developed by Xi’an Xinuo. This product is the first SO product that

received approval in China.

Nissan received registration for 91% metazosulfuron TC (Dec. 4)

Nissan Chemical Industries Ltd. has received temporary approval for 91%

metazosulfuron TC and its formulation product in WG (33%) from ICAMA, for use

to control barnyard grass in rice field, which will be valid until October 27, 2015.

Nissan is the first company who received metazosulfuron registration in China.

Wynca 95% glyphosate dimethylammonium salt receives approval in China(Dec.

5)

Zhejiang Wynca Chemical Industrial Group Co., Ltd recently announced that it has

received registration for 95% glyphosate dimethylammonium salt TC from ICAMA,

China, valid until November 2019. Among Chinese agchem companies, this is the

third first-registration of glyphosate salt for Wynca after the company previously has

been approved for 95% potassium salt and 95% isopropylamine salt of glyphosate.

Globally, Wynca initiated glyphosate formulations in potassium salt, isopropylamine

salt, dimethylammonium salt, as well as glyphosate.

Xingbai received flucarbazone registration in China (Dec. 5)

Chinese firm Shijiazhuang Xingbai Bioengineering Ltd, recently received national

registration for 96% flucarbazone TC from ICAMA, China, valid until November,

2019. Xingbai is the first domestic company who obtained this registration.

Previously, Arysta North America gained the approval of 95% flucarbazone TC in

China.


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Formulation with Mesosulfuron-methyl received approval (Dec. 24)

China-based company Shandong Kingagroot Pesticide Co., Ltd. received ICAMA

registration for its formulation product, 1% florasulam+mesosulfuron-methyl OD

(0.25% florasulam+0.75% mesosulfuron-methyl).Valid until December 11, 2015, this

product will be used for control annual weed in winter wheat field. Qingdao

Kingagroot is the first company in China received approval for mesosulfuron-methyl

mixture formulation, and this OD formulation of this product is also a global first.

2.2 Products Launch and Promotion

Table 2.2 Company product events in China in recent months

Company name Product Event

Ishihara Sangyo

Kaisha Introduced insecticide Longshi (10% flonicamid WG) in China

AkzoNobel Introduced 2 new additives Agrilan788 and Morwet D-400 in

China

Syngenta Fungicide products sales in China over yuan 1000 mn in 2014

AkzoNobel develops new additives to Serve Chinese market (Dec. 2)

Recently, AkzoNobel introduced 2 new additives that improve the performance of

agrochemicals and reduce costs for farmers: Agrilan788 and Morwet D-400. Agrilan

788 is a polymer with good dispersant properties. Further, it manages compatibility

issues in suspended concentrate (SC) formulations. Morwet D-400 dispersant delivers

excellent and reliable performance at a reduced cost, both in liquid (SC) and dry

formulations.

ISK launches flonicamid in China (Dec. 3)

Ishihara Sangyo Kaisha, Ltd. (ISK) recently held a launch meeting to introduce

insecticide Longshi (10% flonicamid WG) in Hangzhou, Zhejiang, China, with over

150 agchem dealers attending the event.

Developed by ISK, flonicamid was introduced in China by its joint-venture Zhejiang

ISK & Taurus Chemical Co., Ltd. This ai has similar chemistry to the neonicotinoids,


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but with a different mode of action. It is systemic and translaminar and demonstrates

rapid anti-feeding activity, broad insecticidal and aphicidal activity.

Syngenta’s fungicide sales in China over yuan 1000 mn in 2014 (Dec. 12)

Syngenta’s fungicide sales in China up 20%, over yuan 1000 mn in 2014.

In terms of products, Syngenta’s four pillar fungicide brands in China are Amistar

(azoxystrobin), Armure (difenoconazole, propiconazol), Score (difenoconazole) and

Ridomil gold (metalaxyl-M, mancozeb). In 2014, Armure’s sales was nearly yuan 200

million, Amista 100 miilion, and Score and Ridomil gold were both 100 million.

From 2011 to 2014, the average growth of Syngenta’s fungicide sales was 18%. The

growth factors include fungicide market demand in China, and the company’s sales

promotion strategies.

2.3 Company Acquisition, Cooperation, Investment

2.3.1 Company Acquisition

Jiangsu Changqing to build subsidiary to acquire agchem company (Dec. 10)

Chinese company Jiangsu Changqing Agrochemical Co., Ltd recently released that

the company planned to establish a wholly-owned subsidiary Jiangsu Changqing

Biotechnology Co., Ltd, through which the company is going to acquire all the

intangible assets of Nantong Feng Tian Agrochemcal Co., Ltd, including registrations

certificates, trademarks and patents.

Sinochem International Corporation invests $156.6 mn to integrate agchem business (Dec. 15) The listed company Sinochem International Corporation, a subsidiary of Sinochem

Group, recently announced that it planned to acquire all the agchem businesses share

of Sinochem Group subsidiaries, including Sinochem Agro Ltd., Shenyang Sciencreat

Chemicals Ltd., Sinochem Agro Hongkong Ltd., Sinochem Agro Do Brazil Ltda.,

Sinochem Agro Argentina SA. This acquisition will be operated through Sinochem

International’s wholly-owned subsidiary Sinochem Crop Protection, with

accumulative investment of yuan 970 million ($156.6 million at the current rate).


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2.3.2 Company Cooperation

Kaiima Bio-Agritech and Keteng to commercialize high-yielding EP™ corn varieties (Dec. 4) Kaiima Bio-Agritech and Kunshan Keteng Biological Science and Technology

recently announced that they have signed an agreement to commercialize new corn

varieties for the Chinese market using Kaiima's Enhanced Ploidy (EP™) technology

and Keteng's elite germplasm

Bayer and Cofco Tunhe into agreement (Dec. 16)

In December, 2014, Bayer CropScience and Cofco Tunhe agreed in Beijing to

cooperate in sustainable agriculture innovation and development. The two parties

planned to explore possible ways for sustainable agriculture, based on the Cofco

Tunhe’s whole industrial chain mode, and Bayer’s innovation solutions.

Zhengbang Bio-Chemical and ADAMA in talks of cooperation (Dec. 18)

Recently, the CEO of ADAMA, Mr. Ziki Levavi visited Zhengbang Bio-Chemical

Group, and negotiated several cooperation with Zhengbang, which includes products

agency, technical cooperation, joint or authorized registrations, crop (rice)

management solutions, and the built of joint venture.

2.3.3 Company Investment

Limin Chemical initiates IPO (Dec. 4)

Recently Limin Chemical Co., Ltd received IPO approval from China Securities

Regulatory Commission (CSRC). Limin Chemical is the largest fungicides

manufacturer in China. Its products include technical and formulations of EBDC,

cymoxanil, fosetyl-aluminium and pyrimethanil. The sales of the company in 2013

was yuan 666 million. This IPO approval is the result of Limin’s second time

application, with the first one in 2011.

Neimenggu Tlong built 30,000 tons glyphosate plant (Dec. 4)

Recently, Neimenggu Tlong Fine Chimical Co., Ltd adjusted equipment for its 30,000

tons glyphosate plant. The company invested yuan 460 million in this project,


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including water pollution treatment and equipped workshops and facilities. The

completion of this project will make the glyphosate capacity of the company reached

to 50,000 tons annually, and expected sales around yuan 1,500 million.

Beijing Kingbo Biotech to accept the Organic input inspection from CERES

Germany(Dec. 10)

In December, Beijing Kingbo Biotech planned to accept the Organic input inspection

from CERES Germany.

Beijing Kingbo Biotech Co.(Kingbo) entered the organic food service area in 2002.

The company’s crop protection products such as Matrine, Physcion, and Polygonum

cuspidate series, have passed the organic inputs evaluation of International and OFDC

certificate, bringing Kingbo a high reputation in organic food industry.

2.4 Research & Development

China developed the first coronatine PGR (Dec. 23)

Co-developed by China Agricultural University and others, the first coronatine PGR

is ready for industrialization and field trials. Researchers have developed AS and SC

formulations and their respective adjuvants, solved the problem of poor stability of

PGR. The technical and formulations are pending for registrations, with expectation

of approval in 2015 on tomato and cotton. Once approved, this will be the first time

for coronatine’s registration and industrialization in China.


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3. Regulations & Policies Updates

Argentina now allowed to export sorghum to China (Dec. 2)

Forage sorghum export from Argentina to China was officially authorized by China

last month. The permission is a result of a phytosanitary protocol agreement between

the two countries that was signed in July. The agreement also allows import of pears,

apples and sweet corn for human consumption.

Three industry standards are approved (Dec. 22) In December, 2014, ICAMA approved three industry standards, including “The

evaluation methods of endocrine disrupting pesticides”, “Guidelines of health risk

assessment for mosquito-repellent incense” and “Acceptable daily intake of

pesticides”.

“The evaluation methods of endocrine disrupting pesticides” can systemically

evaluate if a pesticide is endocrine disrupting or not, while “Guidelines of health risk

assessment for mosquito-repellent incense” is the first technical guideline for

pesticides health risk assessment in China.

Chinese government approved GMO import (Dec. 23)

Chinese government has approved GMO import from Syngenta, Bayer and DuPont.

These products include Syngenta’s Agrisure Viptera maize (MIR162), Bayer’s LL55

soybean and DuPont’s Plenish soybean.

China to promulgate pesticide production effluent standard (Dec. 23) According to the Environmental Standard Research Institute of the MEP, technical

details of the “Effluent Standard for Pesticide Manufacturing Industry” are currently

being reviewed. The final draft version is expected to be released for public

consultation in 2016.

Meanwhile, other laws and regulations also works orderly. The newly revised

Environmental Protection Law will take effect shortly and has been termed China’s

“toughest” environmental protection regulation to date. According to this law,

emission over three times of the limit is a violation, and daily fines will be imposed.

Furthermore, China is to propose its own water action plan to curb water pollution;


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a proposal was made by the Third Plenary Session to monitor all pollutants; the

environmental compliance verification targeting glyphosate production has been

initiated since May 2013, and the pesticides industry respond greatly to this

verification.


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Appendix Table 1.1 Main Crops Area, Yield, and Production in China

Country Category

Area(million hectares)

2014/2015 Proj.

2012/2013 Prel.2013/2014 Nov. Dec.

China

Corn 35.03 36.32 36.80 37.00

Rice 30.14 30.31 30.60 30.31

Wheat 24.27 24.12 24.10 24.10

Rapeseed 7.43 7.53 7.50 7.50

Soybean 7.17 6.85 6.70 6.70

Country Category

Yield(Metric tons per hectare)

2014/2015 Proj.

2012/2013 Prel.2013/2014 Nov. Dec.

China

Corn 5.87 6.02 5.82 5.82

Rice 6.78 6.72 6.72 6.81

Wheat 4.99 5.06 5.23 5.23

Rapeseed 1.88 1.92 1.96 1.96

Soybean 1.82 1.78 1.76 1.76

Country Category

Production(Million metric tons)

2014/2015 Proj.

2012/2013 Prel.2013/2014 Nov. Dec.

China

Corn 205.61 218.49 214.00 215.50

Rice 143.00 142.53 144.00 144.50

Wheat 121.02 121.93 126.00 126.00

Rapeseed 14.01 14.46 14.70 14.70

Soybean 13.05 12.20 11.80 11.80

Source: USDA-FAS Date released: 12/10/2014


china agrochemical market monthly report (dec.,...

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