DJ China's Agrichemical Industry May Benefit From Global Food Demand -- Market Talk
0418 GMT - China's agrichemical industry may benefit as the global demand for food rises, HSBC says. The world's population is continuing to grow, but the supply of arable land remains limited, the bank notes. Thus, farmers may have to rely further on agrichemicals to boost yields. China is currently the world's largest agrichemical producer, contributing 50%-70% of global output, HSBC says. While HSBC expects 5% long-term growth in global demand for agrichemicals, China's leaders may be able to further accelerate industry growth if the planned merger of Sinochem International Corp. and China National Chemical Corp. succeeds. The combined companies could form the world's largest agrichemical group. (yiwei.wong@wsj.com)
(END) Dow Jones Newswires
February 23, 2021 23:21 ET (04:21 GMT)
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