Herbicides China Monthly Report

In March, most herbicide product prices werer relatively stable, with the average TC ex-works price down 0.84% MoM. Herbicide demand rose, market transactions picked up, and some products had big inventory drops. Sellers were less willing to sell at low prices. Domestic demand for essentials was stable, and overall market confidence gradually recovered. In March, the herbicide market operated warmly, with raw material prices experiencing short-term fluctuations but showing a long-term trend towards stability. The chlorine-alkali industry saw product prices oscillate, while most organic chemical raw material prices increased.

Company dynamics: On 28 February, 2025, Changqing Hubei's EI report for the 20,000 t/a glufosinate-P TC and 20,000 t/a L-Homoserine expansion project was publicised. On 24 March, 2025, Lier Chemical planned to acquire Shandong Huimeng, which has three production bases and customers like Bayer Group. The deal aims to integrate Lier Chemical's pesticide chain and align with the trend towards low-toxicity products. Shandong Huimeng's technology could boost Lier Chemical's biopesticide competitiveness, but the deal faces financial, environmental and integration challenges. On 25 March, 2025, Yangnong Chemical released its 2024 results, reporting revenue fell 9.09% and net profit attributable to shareholders dropped 23.19% YoY. The decline was mainly due to lower product sales prices.

Policy: On 25 February, 2025, CCPIA officially released the T/CCPIA 259—2024 Code of Conduct for Pesticide Online Sales, which aims to regulate online pesticide sales, ensure product quality and safety, and protect market order and consumer rights.

Registration: On 28 February, 116 herbicides was announced to be approved for pesticide product registration. Glufosinate-P leads in the number of product registrations, with 13 single formulations.

Trade analysis: From January to February 2025, China's cumulative export volume of herbicide formulations increased by about 5% YoY, while the total export value decreased by 1% YoY. In January, both the export volume and value increased by 21% YoY and 18% YoY, respectively. In February, both the export volume and value decreased by 13% YoY and 23% YoY, respectively.