Frbiz Reports the Pesticide Industry in 2010 is Expected to be Steady
BEIJING, Feb. 22 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, reports that the pesticide industry in 2010 is expected to be relatively steady.
2009, as a result of the financial crisis, saw a greater decline in the export of pesticides. With this, the majority of what were once pesticide exports turned to the domestic market.
China's domestic market price wars are the main form of increased competition, and downstream agents are also adjusting inventory strategies. Many pesticide manufacturers saw both sales and profits decline, mainly due to entering Q32009, as prices for pesticides needed for the production of raw materials rose highly.
The pesticide industry experienced a downturn in 2009, partly because of agricultural products' price drops led to a significant reduction cause home and abroad farmers planting inputs largely decreased; while on the other hand, enterprises reduced available funds, taking the initiative to lower their profits in return for cash flow, and thus triggering vicious competition in the market.
November 2009 saw the pesticide industry's revenue growth slow to 4%. Total profits fell 27% year-on-year. Pesticide production continues to grow, however, and the amount of import and export commodities remained stable, reflecting the industry's stability, but the average price of imported products increased by 14% year-on-year, while the average price of export products fell 33%, mainly through the impact of glyphosate price falls. Excess capacity and raw material price changes, are the main reasons leading to fluctuations in corporate profits.
In 2010 the pesticide industry has had a good start. It is expected to welcome faster growth for demand. At present, the pesticide industries have been enjoying an upward inflection point, and the continuing rise in raw material prices and demand has been aiding the pesticide industry.
According to Frbiz, the global market in 2010 is expected to recover again, with an annual growth of 10%; from 2011 there will be a pesticide rapid growth, and this trend will continue into 2013. Frbiz expects that the growth in 2013 will reach 16%. The domestic pesticide industry in 2009 through a call-back, while in 2010, it is expected to enjoy a steadily rising trend.
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