News from Xinhua Net: Figures released by the General Administration of Customs of the People’s Republic of China on March 11 indicates that in January and February, total foreign trade value is＄266.766b, 27.2% lower than the same period of last year. According to the statistics, total foreign trade value in February is ＄124.948b, -24.9% year-on-year.

The total export amount from January to February accumulated ＄155.325b, down 21.1% year-on-year. The total export value is ＄64.895b, down 25.7% in comparison with the same period of last year.

The global economy downturn seemed to hit Chinese import and export volumes much seriously in the first quarter of this year, agrochemical industry however will more likely to recover in the spring season.

State Administration of Taxation has released yesterday the second batch of tax rebates in less than a month, which consists of 3770 items covering most technical grade pesticides.

The new tax rebates will take into effect starting on Dec 1st, 2008, most technical grade pesticides will enjoy an increase of tax rebates from 5% to 9%. Out of all items, 2,4-D and Glyphosate are among the most popular exported herbicides; other fungicides including Carbendazim, Benomyl, Tebuconazole, Mancozeb and insecticides such as Imidacloprid, Acetamiprid etc, tax rebates will increase from 5% to 9%.

Last month, China announced an increase in tax rebates that targeted textile, toy and clothing producers, covering more than a quarter of all exports. The latest round of tax rebates is likely to stimulate Chinese agrochemical export sector by beginning of next year.

Other agrochemicals which tax rebates will increase up to 13% after adjustment including Tridiphane, Acetofenate, Dinoterb acetate, Acequinocyl, Gibberelic Acid, Dioxacarb, Endothion, Propylisome, Ethofumesate, Butopyronoxyl, Dikegulac, Bt.

By end of 2008, five organophosphate insecticides which were banned for agricultural use in mainland China in January 1st last year, will be entirely prohibitted for export, said Chinese Ministry of Environmental Protection lately. These five organophosphate insecticides including Methamidophos, Parathion-methyl, Parathion, Phosphamidon and Monocrotophos.

Due to a minimal export application process of 20 days, all manufacturers are required to submit their applications before December 5th. Overdue exports will be treated as illegal export. It is obvious that China is showing its determination to phase-out more highly toxic pesticides in the future.