Chinese producers announced price increases, including glyphosate technical and formulated products

Date:09-03-2024

As the global agricultural chemical industry faces unprecedented challenges, the Chinese agrochemical market has seen a wave of price adjustments. With the continuous rise in raw material costs, many leading companies in the industry have announced price increase plans, attracting widespread attention in the industry.

Recently, several well-known agricultural chemical companies, including Wynca, Good Harvest, Xingfa Group, and Limin Group, have issued price adjustment notices, with increases generally ranging from 5% to 15%. This series of price increase measures not only reflects the cost pressure faced by the current agricultural chemical industry but also reflects the profound changes that the entire industry chain is experiencing.

On August 27, 2024, Wynca announced an important price adjustment notice. The notice pointed out that due to the recent continuous rise in raw material costs, which has approached or even exceeded the sales price of the products, the company decided to moderately increase the prices of its agricultural chemical products from September 15, 2024, with an expected increase of 5% to 10%.

Following suit, other companies in the industry have also started to take similar measures: On August 31, Good Harvest issued a price adjustment notice. The notice mentioned that in order to ensure the continuous supply of high-quality glyphosate series products to the market, the company decided to adjust the product prices from September 1, 2024, with an expected increase of 8% to 10%, and the specific increase will be determined based on different product specifications, quantities, and other factors.

On September 1, Xingfa Group issued an announcement, stating that in order to ensure the healthy development of the glyphosate business, the company decided to increase the sales price of glyphosate technical and series formulated products supplied from September 10, 2024, with a price increase range of 5%-15%.

Limin Group also announced the price adjustment of its products on September 2. In the notice, Limin pointed out that in view of the new changes in the domestic and international situation of the industry, as well as the rise in upstream raw material costs and the gradual recovery of downstream market demand, the company has adjusted the prices of some products. After in-depth market research and prudent strategic assessment, Limin Shares decided to further expand the range of products for price adjustment and increase the extent of the price adjustment to adapt to market changes and cost pressures.