Insecticides China Monthly Report(Insecticides China Monthly Report 202212)

In terms of market dynamics, in early Dec., the ex-works price of CCMP in China went down, so did the price of its downstream products imidacloprid TC and acetamiprid TC. Prices of most insecticides TC dropped in late Dec.; organophosphorus insecticides TC had mixed price trend and prices of most pyrethroid insecticides TC and nicotinoid insecticides TC continued a fall due to sluggish demand. In general, the year 2022 witnessed an overall downtrend in insecticide price in China. It is worth noting that rapid change in COVID policy in China has greatly affected logistics, and market supply of insecticides may be influenced in the short term.

In terms of company dynamics, Qilu Pharmaceutical's spinosad TC production line has been operating normally. Limin Group's spinosad TC line has been put into trial production since this July and the company has planned to accept orders by the end of this year. Hebei Xingbai's production line of spinosad TC has not been built up.

In terms of policy, on 7 Dec., the Work Safety Committee of the State Council decided to carry out nationwide special rectification and supervision of major risks and hidden dangers in production from the date onward till March next year, to strengthen production safety and to prevent and curb serious and major accidents.

The USD/CNY exchange rate in this newsletter is USD1.00 = CNY7.1225 on 1 Dec., 2022, sourced from the People's Bank of China. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.