During the past week, reference price of glyphosate TC was $4720 per tonne, increased by $130 and $50 than that of the end of June and the end of July respectively. Since the plant season of South America has come, overseas demand has started to increase, which led to a slight rise in China glyphosate market.
According to CCPIA monthly bulletin of statistics of China pesticides, in July, resulted from some long-term orders' continuous impact, VWAP of glyphosate TC declined by $70 per tonne than that of June, however the month-on-month drop was smaller than that of June.
In June, the number of glyphosate export orders increased by 30% than that of May. Although export price dipped to a low point in June, the coming demand season will boom the market. Purchasing has become intensify during the past few weeks, it's estimated that the market turning point will appear in August.
Changes of raw materials' prices and market demands, and environmental protection laws' implementation are all key factors that drive the market prices. At the beginning of August, price of glycine rebounded, plus the increasing overseas demand and environmental protection scrutiny's implementation, glyphosate market will be boomed to some extent in the near future.