Glyphosate Price To Climb over 30,000 Yuan

By CnAgri2012-09-12 13:50:22 Print

Glyphosate price continued to go upwards in August, mill price of crude pesticide has climbed over 30,000 Yuan per ton, even exceeded 35,000 Yuan at the middle of the month. 41% aqueous solution was priced at 15,000 Yuan to 16,000 Yuan, and 62% aqueous solution was 17,000 Yuan to 18,000 Yuan, up by 15% over last month.

Most of the glyphosate enterprises are executing orders in July and August, so there weren't enough spot goods for sale. Because of insufficient inventory, glyphosate delivery cycle was further lengthened to 4 to 6 weeks. Crude pesticide or aqueous solution orders placed in early August would be delivered until middle September. Longer cycle and the wait-and-see state of the enterprises intensified market supply. As a result of this, glyphosate price was pushed up, however the actual sales volume was very little.

Meanwhile, there are more inquiries from overseas clients, which brought the signal of strong demand to the market. Insufficient supply and strong demand combined to push glyphosate price continued to go upwards.

On the other hand, due to the high price and difficulty in goods picking-up, together with the slump in 2008 and 2009, most processing enterprises in the lower reach and dealers are taking a wait-and-see attitude, so real support from the market was weak.

From "China Pesticide Market Monthly Report"