2024 2Q China’s pesticide export hit 762,800 tons, valued at RMB15.294 billion yuan

1. Status quo of export

The export value of China pesticides in the second quarter of 2024 was RMB15.294 billion yuan, with an export volume of 762,800 tons. 

Among the above, the export value of pesticide technicals was RMB5.135 billion yuan, with an export volume of 308,000 tons; the export value of formulations was RMB9.959 billion yuan, with an export volume of 454,800 tons; the average price of each ton of formulations was 26.41% higher than that of technicals. 

In the second quarter of 2024, the export value increased by RMB1.335 billion yuan over the first quarter; the export volume increased by 66,700 tons; the average export price remained unchanged. The indicators of the second quarter showed no significant change compared to the first half of 2024.

2. Category of export 

The monthly export in the second quarter showed no significant fluctuation, where the export value of herbicides was RMB9.417 billion yuan (61.58%), with an export volume of 557,000 tons (73.06%) at an average export price of RMB17,000 yuan/ton; the export value of insecticides was RMB3.858 billion yuan (25.22%), with an export volume of 135,000 tons (17.71%) at an average export price of RMB29,000 yuan/ton; the export value of fungicides was RMB1.799 billion yuan (11.76%), with an export volume of 58,000 tons (7.66%) at an average export price of RMB38,000 yuan/ton; the export value of plant growth regulators was RMB220 million yuan (1.44%), with an export volume of 12,000 tons (1.56%) at an average export price of RMB18,000 yuan/ton.

From a price standpoint, the added value of herbicides and plant growth regulators is significantly lower than that of insecticides and fungicides. 

3. Implications of category of export

The average export price of herbicides remained stable from April to June. According to Incomplete statistics, the South American market comprised approximately 30% of Chinese exports. The export of insecticides remained relatively stable in the second quarter while the price of insecticides increased significantly in May compared to the same period last year. The export price of chemical insecticides remained stable from April to June; the average export price of biopesticides fluctuated greatly; the average export price of fungicidal technicals was relatively stable.

The export price of plant growth regulator formulations in the second quarter was much higher than that of technicals. Plant growth regulators are applied using relatively strict field techniques, often requiring strong technical support from local staff. As Chinese domestic manufacturers are unable to support and sustain such a local technical team, Chinese companies mainly export technicals while the profit mostly goes to local formulators.

Overall, biopesticides are the only category of pesticides exported at a price above RMB100,000 yuan and are capable of competing with imported pesticides from abroad. However, the prices of biopesticides have been very volatile. The export price of fungicides is close to that of insecticides, while the export volume of fungicides is far lower than that of insecticides.