Market Overview

Last week, the domestic pesticide market continued its sluggish trend. Demand remained weak, market trading activity was clearly insufficient, and overall transaction volume significantly shrank compared to the previous period. In terms of price performance, the market showed a differentiated trend: mainstream product prices fluctuated within a limited range, maintaining overall stability; some varieties continued a downward price trend due to increased operating rates of upstream enterprises, sufficient raw material supply, and increased market inventory pressure. However, a few products with tight supply maintained relatively firm prices, constrained by low enterprise operating rates. It is noteworthy that there is a clear phenomenon of price inversion in the current market: although manufacturers' quotations for some products remain high, actual transaction prices are significantly lower than quoted prices due to sluggish downstream purchasing willingness. Overall, with the continuous improvement of market information transparency, competition in the pesticide industry is becoming increasingly fierce, and price competition has entered an intensified stage.

Herbicides

• 98% 2,4-D: Increased by 1,000 Yuan, to 15,000 Yuan/ton.
• 90% Clethodim: Increased by 10,000 Yuan, to 130,000 Yuan/ton.
• 95% Propisochlor: Decreased by 2,000 Yuan, to 36,000 Yuan/ton.

Insecticides

• 97% Chlorfenapyr: Decreased by 3,000 Yuan, to 135,000 Yuan/ton.
• 95% Indoxacarb: Decreased by 20,000 Yuan, to 780,000 Yuan/ton.
• 97% Lufenuron: Decreased by 2,000 Yuan, to 128,000 Yuan/ton.

Fungicides

• 96% Difenoconazole: Decreased by 1,000 Yuan, to 92,000 Yuan/ton.
• 95% Propiconazole: Decreased by 1,000 Yuan, to 72,000 Yuan/ton.
• 95% Fluquinconazole: Decreased by 10,000 Yuan, to 260,000 Yuan/ton.
• 97% Pyraclostrobin: Decreased by 1,000 Yuan, to 155,000 Yuan/ton.
• 97% Carbendazim: Decreased by 1,000 Yuan, to 37,000 Yuan/ton.
• 97% Picoxystrobin: Decreased by 5,000 Yuan, to 265,000 Yuan/ton.

Market Summary and Outlook

Last week, the overall pesticide market performance was lackluster, with end-user demand failing to pick up. The market trading atmosphere was cool, and transaction volume significantly declined compared to the previous period. Price trends showed differentiation: most conventional product prices remained stable with limited fluctuations; some varieties faced downward price pressure due to good supply-side recovery and ample inventory; while prices for a few products with tight supply remained relatively firm. Additionally, there was a certain degree of "price without market" phenomenon, where some manufacturers' quotations were high, but actual transaction prices were significantly lower than quotations due to insufficient demand, reflecting cautious downstream purchasing sentiment. Current market information transparency is high, and industry competition is intensifying.

Market Forecast

In the short term, the pesticide market may continue a weak consolidation pattern. Demand-side, affected by agricultural seasonality and end-user wait-and-see sentiment, is unlikely to see significant improvement. On the supply side, as enterprise production stabilizes, inventory pressure for some products may further increase, and prices still have room for downward movement. For varieties with tight supply, prices may continue to fluctuate at high levels. Furthermore, if downstream procurement remains sluggish, manufacturers' high quotations may gradually align with actual transaction prices, and the market inversion phenomenon is expected to ease. In the medium to long term, attention should be paid to policy regulation, raw material price fluctuations, and the recovery of end-user demand. If there is no significant positive support in the market, industry competition may further intensify, and some enterprises may resort to price cuts for promotion to alleviate inventory pressure.