Herbicides China Monthly Report(Herbicides China Monthly Report 202510)

In October, the herbicide market operated with a stable trend leaning towards weakness, with raw material prices fluctuating and short-term price trends diverging. In October, the herbicide market trend was mainly characterised by fluctuation within a range. The herbicide market was still in the transition between the off-season and the peak season, with domestic demand being lukewarm, while the foreign trade market performed well. Factories mostly delivered earlier orders, and the ex-works prices of the TC remained generally stable.

Company dynamics: On 25 September, 2025, Jingbo Agrochemicals announced that its application for listing had been approved, with shares set to be publicly transferred on the NEEQ system from 26 September. On 25 October, 2025, Jiamusi Heilong announced plans to invest USD7.03 million (RMB50 million) in its 8,000 t/a 2,4-D relocation project; production of the existing penoxsulam product will be discontinued. In October 2025, eight herbicide-listed companies successively released their Q3 reports for 2025. Xinnong Chemical, Lier Chemical, Changqing Agrochemical, Lanfeng Biochemical, Jiangshan Agrochemical, and Sino-Agri Leading achieved double-digit growth in net profit.

Policy: On October 24, 2025, Shandong issued the Implementation Measures for the Safety and Reliability Assessment of Chemical Processes Used for the First Time in Shandong Province (Trial) (Draft for Comment), covering the full R&D-to-plant lifecycle to pre-empt major hazards.

Registration: On 25 September, 137 herbicides were announced to be approved for pesticide product registration. Glufosinate-P leads in the number of product registrations, with 2 TCs, 13 single formulations and 3 mixed formulations.

Trade analysis: From Jan. to Sept. 2025, total export volume and value of herbicide formulations from China increased by 18% and 13% YoY, respectively. In September, the export volume and value increased by 53.02% and 45.22% YoY, respectively.

In this monthly report, the USD/CNY exchange rate is USD1.00=CNY7.1102 (Source: The People's Bank of China, 9 Ocotber, 2025). Unless otherwise stated, all prices involved in this report include VAT. Export goods are valued at FOB prices. Paraquat is subject to a 9% VAT, while diquat, glufosinate, and glyphosate are subject to a 13% VAT.