Prices of most insecticides TC set lower in early May 05-22-2023

Summary: In early May, prices of most insecticides TC continued to drop. Prices of carbamate insecticides TC basically kept stable, but prices of some pyrethroid insecticides TC and nicotinoid insecticides TC decreased by over 10% MoM due to weak demand.

In early May, prices of most insecticides TC were set lower since downstream demand was still weak and market inventory were at a high level. Many buyers were hesitant to place an order. Although carbamate insecticides TC and certain organophosphorus insecticides TC had stable price, most pyrethroid insecticides TC and nicotinoid insecticides TC experienced continuous price fall due to lowered raw material price as well as insufficient demand.


Organophosphorus insecticides: Ex-works price of malathion TC was stable, while the prices of profenofos TC, phoxim TC and chlorpyrifos TC went down, especially the latter two with the prices down over 6% MoM again. For chlorpyrifos, export orders contracted and domestic demand was sluggish. Early this month, chlorpyrifos producers such as Jiangsu Fengshan Group Co., Ltd. and Shandong Luba Chemical Co., Ltd. had normal production, while Chongqing Huage Biochemical Co., Ltd. still suspended its lines. Given a relatively slack demand for organophosphorus insecticides in China, prices of some products may drop in the short term.


Carbamate insecticides: Prices of carbamate insecticides TC were basically stable. Considering still weak downstream demand and a surge in demand impossible in the short term, prices of these carbamate insecticides will remain stable in the near future.


Pyrethroid insecticides: Ex-works prices of most pyrethroid insecticides TC decreased mainly due to insufficient domestic demand. Prices of bifenthrin TC, lambda-cyhalothrin TC and deltamethrin TC went down by about 10%, 12% and 14% MoM, respectively. Considering large inventory of some intermediates and a downward trend in their prices, pyrethroid insecticides TC may continue to witness price decline in the short term.

Nicotinoid insecticides: Ex-works prices of nicotinoid insecticides were lowered in general due to slack domestic demand and small exports. Prices of imidacloprid TC and acetamiprid TC dived over 10% MoM. Imidacloprid TC exports shrank, and orders at home market were few. Some imidacloprid producers suspended operation early this month, such as Wuzhong Linghang Biological & Pharmaceutical Co., Ltd., Anhui Huaxing Chemical Industry Co., Ltd. and Jiangsu Changlong Agrochemical Co., Ltd. Shandong Hailir Chemicals Co., Ltd.'s lines were in normal production, and Shandong Sino-Agri United Biotechnology Co., Ltd.'s lines operated at a low level. Supply of 2-nitroaminoimidazoline, an intermediate for imidacloprid production, was slightly unstable. Supply of another intermediate 2-chloro-5-chloromethylpyridine (CCMP) was in good order in this period, with the price rather stable. Ex-works prices of nicotinoid insecticides may decline further in the short term, given an expected weak demand both at home and abroad.

Table Ex-works prices of major insecticide TC products in China in early May 2023
Category Product Ex-works price (RMB/t) Ex-works price (USD/t) RMB MoM change
Organophosphorus insecticide 90% Phoxim technical 39,000 5,648 -7.14%
95% Chlorpyrifos technical 37,500 5,431 -6.48%
90% Malathion technical 38,000 5,503 0.00%
90% Profenofos technical 81,300 11,773 -2.98%
Carbamate insecticide 98% Carbofuran technical 105,000 15,205 0.00%
98% Methomyl technical 77,800 11,267 -0.26%
98% Isoprocarb technical 45,500 6,589 0.00%
Pyrethroid insecticide 97% Bifenthrin technical 176,000 25,487 -9.74%
95% Lambda-cyhalothrin technical 138,000 19,984 -12.10%
94% Cypermethrin technical 68,000 9,847 -4.23%
98% Deltamethrin technical 430,000 62,270 -14.00%
Nicotinoid insecticide 97% Imidacloprid technical 89,900 13,019 -10.90%
95% Acetamiprid technical 80,800 11,701 -11.11%

Source: CCM

More information can be found at CCM Insecticide China Monthly Report.

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