Market Status Description:

Last week，market kept stable , demand was still weak.

For herbicides , factories have very strong willingness to raise prices , especially non-selective herbicides, like glyphosate, glufosinate ammonium, paraquat.

For insecticides , with stable market, Nicotinoid and pyrethroid pesticides are dropping slightly.   

For fungicides , overall market kept stable , and triazole fungicides are still falling, but not much. 

Some products have hit into historical lowest prices in the past 5 years, even some products are breaking through production cost lines.

According to past experiences, before CAC of March, the prices of products will be risen up.

Moreover, China domestic market is coming.

So it is a good time to place some orders before Chinese New Year.

Exchange rate between USD and RMB:

In order to promote economic recovery, RMB will appreciate again, even the expected exchange rate between USD and RMB will be 6.8 to 6.5, now it is 7.08 or so.

Supplying side:

• The supplying of trifloxystrobin, Boscalid is tight.

• For methomyl, orders have been arranged to end of Feb of 2024, the time of formulation production will be extended to June 1, 2024, according to new regulation.

Environmental protection:

In north of China, some factories production have been limited because of environment problem.

Emergency:

With the coming of Chinese New Year, and Red Sea situation, the freight fee is keeping going up daily and sharply.

The products which we have better prices:

Paraquat, Glyphosate, Glufosinate ammonium, 2,4-D, Clethodim, Pretilachlor

Dinotefuran, Abamectin, Emamectin Benzoate, Chlorfenapyr ,Fipronil

Azoxystrobin,Prothioconazole, Pyraclostrobin ,tebuconazole,thiamethoxam,

lambda cyhalothrin