中国杀虫剂月报

In March, ex-works prices of China's insecticides TC tended to stabilise in general. Some insecticides TC experienced price slips due to sluggish downstream market. Specifically, most nicotinoid insecticide TC products witnessed obvious MoM price drops. As demand is hard to recover in the short term, and raw material price has lent limited support to the price of insecticide TC, ex-works prices of insecticides TC may decline in the near future.

In terms of company dynamics, on 9 March, the EI report of Hubei Jinghesheng's 13,600 t/a pesticide TC and intermediate project was published before government examination and approval kicked off. The company has planned to build capacity for insecticides and intermediates including thiamethoxam, clothianidin, flonicamid, pymetrozine and CCMT. Also this month, the EI report of Gansu Hanlong's pesticide intermediates & TC project (Phase II), involving 1,500 t/a thiamethoxam new capacity, was approved, and acceptance of the EI report of Gansu Youtaida's 7,000 t/a pesticides TC, 30,000 t/a pesticide formulations and 10,000 t/a O-methylisourea project, which includes capacity of 3,000 t/a thiodicarb TC, 1,000 t/a isoprocarb TC, 1,000 t/a fenobucarb TC and 1,000 t/a carbaryl TC, was announced by Gansu authorities.

In terms of policies, in late Feb., the Guangxi government released a notice on strengthening pesticide supervision and administration, aiming at better safeguarding the quality and safety of agricultural products, and promoting reduced use of chemical pesticides.

In terms of pesticide registration, in early March 2023, the Department of Agrochemical Management of MARA released a batch of products that have obtained registration renewal approval, which include 342 insecticide products, of which 27 are insecticide TC products. And on 6 March, registrations of four new insecticide products from Anhui Kewu were approved by the MARA.

The USD/CNY exchange rate in this newsletter is USD1.00 = CNY6.9400 on 1 March, 2023, sourced from the People's Bank of China. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.