China’s Pesticide Industry Sees Drop in Profits
China’s National Bureau of Statistics reported that while the country’s pesticide industry increased in 2014, total profit was actually down for the year, according to a report from the Chinese Crop Protection Industry Association (CCPIA).
The National Bureau of Statistics looked at the main business revenue of 843 enterprises above the designated size in the Chinese pesticide industry. Those organizations posted $8.78 billion (RMB 300.841 billion) in revenue, up 7.5% year on year (YoY), while the total profit was $3.66 billion (RMB 22.592 billion), down 1.2% YoY. The growth rate for 2014 was 30.8%. The total profit of chemical pesticides fell 3.6%, while that of biochemical and microbial pesticides grew 23.7%, with a growth rate much higher than chemical pesticides.
Among the 843 enterprises above the designated size, the number of the loss-making enterprises fell 0.7% YoY, while the losses were $93.24 million (RMB575 million), up 24.9% YoY. The proportion of loss-making enterprises dropped to 7.1% from last year’s 7.8%.
Read more about the CCPIA report here.