Herbicides China Monthly Report(Herbicides China Monthly Report 202604)

In April 2026, influenced by expectations of easing geopolitical conflicts in the Middle East, chemical product prices that had been pushed up by earlier panic sentiment saw notable corrections. Herbicide raw material markets ended the broad-based upward trend seen in March, with prices clearly diverging across products. Peak spring farming demand and high raw material prices continued to support some products, but weakening domestic sales, slowing export demand, and concentrated destocking by traders put pressure on most products at high levels. After an early-month surge driven by cost push, the domestic herbicide market entered a phase of divergent adjustment.

Company dynamics

On 31 March, 2026, BSM Chemical announced the termination of its 6,000 t/a pendimethalin technical renovation project, with USD9.85 million (RMB68 million) of raised funds permanently redirected to working capital. On 3 April, 2026, ABA CHEM announced a private placement of shares to raise no more than USD146 million (RMB1.01 billion) for several high-end intermediate and API projects. On 9 April, Jiangsu Wintafone completed the public notice for the second-phase environmental protection completion acceptance inspection of its 20,000 t/a 2,4-D extension series, 8,000 t/a MCPA extension series, and 20,000 t/a glyphosate formulation project.

Policy

On 7 April, 2026, the Hunan Provincial Department of Agriculture and Rural Affairs issued the Hunan Province Pesticide Business License Review Rules, effective immediately for a period of five years.

Registration

On 10 April, the Institute for the Control of Agrochemicals (ICAMA) announced the third batch of proposed pesticide registrations, which includes no herbicide products.

Trade

From January to March 2026, China's cumulative exports of herbicide formulations rose 13.45% YoY in physical volume and 21.23% YoY in total value. In March alone, export volume rose 5.87% YoY and export value rose 12.95% YoY.

In this monthly report, the USD/CNY exchange rate is USD1.00=RMB6.9025 (Source: The People's Bank of China, 1 April, 2026). Unless otherwise stated, all prices 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. According to the policy, the VAT export rebate for glufosinate will be canceled effective from1 April, 2026.