World Agrochemical Network Chinese website reported: In the first half of 2022, Sinosure supported a total of US$9.56 billion in domestic and foreign trade in the agrochemical industry, an increase of 61% over the same period of the previous year. Among them, the supporting export business was 7.88 billion US dollars, an increase of 60%; the domestic business was 11.18 billion yuan, an increase of 65%.
Table 1 Main underwriting data of the agrochemical industry in the first half of 2022 (Unit: USD million/RMB)
From the perspective of underwriting continents, Asian business accounts for 40%, followed by Latin America with 27% and Europe with 16%; the export value to Latin America, Europe and RCEP countries all exceeded 1.2 billion US dollars, with a growth rate of 105% and 94% respectively. %, 76%.
In the first half of 2022, Sinosure supported pesticide exports of US$6.87 billion, a year-on-year increase of 75%, and the hazard rate rose to 0.8%. Among them, the hazard rate in Europe rose to 3.2%, and the risks were concentrated in exports to Ukraine, Russia and re-exports to Russia and Ukraine through Hong Kong. business.
In the first half of 2022, the amount of agrochemical companies applying for export business quotas from China Credit Insurance increased by 91% year-on-year, and the amount of domestic trade business quotas applied for them increased by 65% year-on-year. At present, the prices of some agrochemical commodities have declined. In actual business, the price of the payable date may be lower than the price at the time of signing the contract, and the possibility of default by the buyer is increased. It is recommended that relevant enterprises take appropriate risk control measures and make good use of policy-based financial instruments such as credit insurance.
Post time: Aug-29-2022