21 December 2022, New Delhi: Decreasing raw material costs, rising inventories, and a lack of market confidence from downstream businesses, the price of glyphosate has been on the decline ever since the start of this year.
The Glyphosate Industry Task Force, with the cooperation of many leading glyphosate producers in China, took the initiative to restrict glyphosate output in mid-November in response to government mandates on work safety, environmental protection, and energy consumption management. The monthly production output is restricted to around 1/3 of the total capacity through the initiative of decreasing production through the alternate shutdown of manufacturing units that are put under maintenance, resulting in a monthly reduction in glyphosate production of about 20,000 tonnes.
Production restricted to 50% of capacity
The manufacturers who have previously committed to the effort of reducing production are taking additional steps this week to cut production by shutting down units that are being put under repair, according to the most recent information from the Glyphosate Industry Task Force. The monthly production output is currently restricted to less than 50% of the overall capacity, thus reducing the production of glyphosate by around 30,000 tonnes per month.
There are currently 10 large glyphosate producers in China, with Xingfa producing 230,000 tonnes, Fuhua 153,000 tonnes, Wynca 80,000 tonnes, Jiangshan 70,000 lots, Hebang 50,000 tonnes, Anhui Guangxin 50,000 tonnes, etc., totaling 800,000 tonnes, or around 2/3 of the world’s production.
