Market Overview

Last week, the pesticide market showed characteristics of "overall stability with localized fluctuations." Price fluctuations for most products were minor. For some products, upstream raw material price fluctuations were transmitted to some intermediate varieties, leading to tight market supply and firm prices; a few products showed signs of price decline. Currently, most manufacturers are adopting cautious business strategies and maintaining low operating rates, resulting in low overall market inventory. In the short term, the market is expected to maintain a "low inventory, stable prices" pattern.

Herbicides

The herbicide market remained generally stable with steady price trends; only a few products showed price fluctuations. In May, the herbicide market experienced a unique situation of "firm prices" and "tight supply," especially for major products like Quizalofop-p-ethyl and Diquat. For example:

• Sethoxydim: Due to increased spring demand and tight supply, the price continued to rise by 5000 Yuan, to 90,000 Yuan/ton, with no signs of decline.
• Quizalofop-p-ethyl, Diquat: As major products, prices are firm and supply is tight.

Insecticides

Most insecticide product prices remained stable, with some products like Chlorfenapyr and Pyridaben experiencing price reductions. May marks the off-season for insecticide use, and supply is gradually easing. However, some products like Abamectin powder and Emamectin benzoate, although prices are stable, have tight supply. Specific examples include:

• Acetamiprid (96%TC): Price decreased by 5000 Yuan, to 125,000 Yuan/ton.
• Abamectin powder, Emamectin benzoate, Metaldehyde: Prices are stable but supply is tight; continued monitoring is needed.

Fungicides

Fluctuations in some fungicide products were quite evident, but overall analysis shows market prices are tending towards stability. Products like Tricyclazole, Epoxiconazole, Prochloraz, Azoxystrobin, Dimethomorph, Carbendazim, and Metalaxyl, although prices are stable, have tight supply. For example:

• Tricyclazole, Epoxiconazole, Prochloraz: Prices are stable but supply is tight.
• Azoxystrobin, Dimethomorph: Prices are stable but supply is tight.

Market Summary and Outlook

Last week, the overall pesticide technical market showed a deadlock pattern of weak supply and demand. The market operation mainly exhibited the following characteristics: From the demand side, distributors and formulation enterprises mostly adopted a cautious wait-and-see attitude, focusing on digesting existing inventory. In particular, the delayed stocking cycle in major overseas procurement regions further exacerbated the sluggish market demand.

The supply side showed characteristics of structural tightness. Affected by environmental inspections and cost pressures, the overall industry operating rate remained low, and supply-demand contradictions continued to ferment, leading to a dilemma for market prices: on one hand, weak demand suppressed room for price increases; on the other hand, tight supply formed bottom support for prices.

From the perspective of product categories, market performance showed clear differentiation: insecticide prices were generally stable, but trading activity was low; herbicide products experienced localized declines due to demand drag; while fungicides maintained a stable to strong trend due to tight supply. This structural difference reflects the complexity of the current market.

Market Forecast

In the absence of significant positive stimuli, it is expected that the market will continue a pattern of narrow fluctuations in the short term. The market conditions for most products will be mainly stable, and price fluctuations will not be too large.

Market participants are advised to closely monitor the recovery of overseas procurement demand and the operating status of domestic production enterprises, rationally control inventory levels, and seize procurement opportunities at the end-of-month settlement window. At the same time, it is necessary to be alert to the risk of market shifts that may be triggered by the continuous accumulation of supply-demand contradictions.