In the latest approved list of pesticide production certificates, Nanjing RedSun's 20% paraquat GW is no doubt an eye-catching one. It was the first time that paraquat Non-AS formulation has been approved production since the ban implemented started from Jul 1st 2014.
According to CCPIA monthly bulletin of statistics of China pesticides, in July, volume weighted average price of paraquat TK increased by $150 per tonne (100% basis) than that of June. However with same number of manufacturers operating, output of paraquat TK declined by 31.8% MoM, which might be impacted by the ban of paraquat AS production. Meanwhile sales volume of paraquat TK dipped by 1.8% month-on-month.
Seen from export situation, since Feb 2014, the export average price has been decreasing, in June the price even fell below $4400 per tonne, declined by 7% than the high point this year. While the number of orders increased by 30% than that of May.
Although paraquat AS will be the mainstream in sales and application in the near future, the permission of paraquat GW production no doubt triggered paraquat's development. The paraquat non-AS formulations' development will attract most attention.