With rapidly growing price of pork, egg, cooking oil and other commodities, China has yet faced another bounce in inflation in October, parallel to August a year-on-year growth of 6.5 percent hitting a 10-year high. This showed that the price inflation still maintained at high level, forcing the Chinese central bank to further increase interest rates for the sixth time in this year.

According to Xinhua report, although there was a decline in September, but China’s CPI had yet rebound by 6.5 percent, up 0.3 percentage from last month. From January to October, accumulated overall consumer price level gained 4.4 percent. The rose of food price by 17.6% is a key factor that led October CPI.

The Ministry of Agriculture and the National Development and Reform Commission have decided to prohibit the production and use of methamidophos from Jan. 1, 2008.

All the enterprises will stop production,use and sales of these pesticides in china including tech and formulation. The equipments and devices will be demolished and the factory will stop the export to the other country.

The 2007 Glyphosate peak Conference was held in Xining, Qinghai province on 5th of September this year, Psyche Chemicals Mr. Yue has gladly attended the meeting.

In the report, it is said that the supply of Glyphosate is still considerably short due to the mass demand of consumption in the agricultural world. The total output of the technical product is around 300,000- 400,000 metric tons in China. However, there is an uptrend of nearly 10.8 metric tons next year.

Market price of Glyphosate will keep at high rate for certain period of time, and it is believed that the price will go down next year if the demand does not increase.