China’s herbicide export in Jan-Sept 2024 hit 1.5744 million tons, up 31.47%

In September 2024, China imported 623.23 tons of herbicides, an increase of 46.66% over the previous month. The cumulative import from January to September 2024 was 11,479.79 tons, down 10.12% year on year.

In September 2024, China exported 126,900 tons of herbicides, a decrease of 27.66% over the previous month. The cumulative export from January to September 2024 hit 1.5744 million tons, up 31.47%.

Analysis of influencing factors

The increase in import in September is attributed to the increase in the applications to cash crops and paddy rice in southern China, as well as the reduced use of some of the imports; the decrease in export in September was due to the decreased purchase orders from overseas markets, whilst the sea freight went down which facilitated the smooth delivery of goods and the increase of export.

Analysis of import and export structure

In September 2024, the total export to five countries - Australia, United States, Brazil, Indonesia and Thailand, was 39,047 tons accounting for 60.01% of the total export of the month; the total export to the five countries - Brazil, Argentina, Tanzania, Colombia and South Africa, was 34,544 tons accounting for about 55.92% of the total export of the month.

Trend forecasting

In October 2024, China’s herbicide export is expected to arrive at about 150,000 tons, which will be an increase over the previous month. This judgement is made based on the price escalation by the Chinese enterprises in October 2024 as well as the increased overseas inquiries, which will have an impact on the export in October. The usual replenishment by the U.S. companies takes place in the fourth quarter, beginning from October to November, ending in March of the next year; in the southern hemisphere, i.e., Brazil and Argentina, the first-season soybean and cotton are planted in September - November, which are the high season of use of glyphosate. Therefore, the overseas glyphosate consumption is expected to increase.