Market Overview

The pesticide market largely continued its previous trend last week, with the overall trading atmosphere failing to gain significant momentum. Terminal procurement demand remained relatively flat, and many market participants maintained a wait-and-see attitude.

The market is currently characterized by three key trends:

· Prices for most products are fluctuating within a low range as the industry's primary focus remains on destocking existing inventory.

· A few products, however, are holding firm. This is due to a combination of low existing inventory and insufficient operating rates at manufacturing plants, which has led to a tightening of market supply.

· Conversely, some products that experienced significant price hikes earlier are now on a downward trajectory. Weighed down by the dual pressures of oversupply and weak demand, these products lack support from the demand side and may see further price declines in the short term.

Price Adjustments by Category​

Herbicides

· 97% Simazine: Dropped by 141 USD to 3,812 USD/ton

· 96% Bispyribac-sodium: Dropped by 706 USD to 32,469 USD/ton

Insecticides

· 96% Lambda-cyhalothrin: Rose by 282 USD to 15,246 USD/ton

· 96% Bifenthrin: Rose by 141 USD to 18,070 USD/ton

· 97% Acetamiprid: Dropped by 141 USD to 8,894 USD/ton

· 97% Clothianidin: Dropped by 70 USD to 8,894 USD/ton

· 95% Abamectin: Dropped by 1,412 USD to 57,880 USD/ton

· 98% Cartap: Dropped by 424 USD to 14,399 USD/ton

· 98% Flufenoxuron: Dropped by 4,235 USD to 63,527 USD/ton

· 95% Pyriproxyfen: Dropped by 706 USD to 15,529 USD/ton

· 96% Chlorantraniliprole: Dropped by 283 USD to 29,081 USD/ton

Fungicides

· 96% Difenoconazole: Dropped by 141 USD to 12,141 USD/ton

· 97% Pyraclostrobin: Dropped by 142 USD to 20,187 USD/ton

· 97% Iprodione: Rose by 283 USD to 25,411 USD/ton

· 97% Hymexazol: Dropped by 282 USD to 9,882 USD/ton

Market Forecast

Last week, demand in certain sectors of the pesticide market remained weak. Domestic trade was persistently sluggish, while foreign trade was relatively stable, primarily focused on fulfilling previously placed orders.

Given the intensified price competition and the fact that overall demand has not met expectations, it is highly likely that prices for mainstream pesticide products will continue to experience sideways consolidation. Most varieties are expected to remain stable with limited volatility.

It is crucial to note that a substantial improvement on the demand side remains the key determinant for future price trends. In the short term, the majority of pesticide products are expected to maintain stable performance without significant upward or downward price swings.