Sep. 12, 2024
At the beginning of February, the price of emamectin benzoate 70% TC in China fell to its bottom RMB490,000 yuan per ton. Thereafter, the price started to rise continuously, and up to late August, the continued price rise per ton went up to RMB100,000 yuan per ton.
At present, the prime manufacturers of emamectin benzoate in China include Qilu Pharmaceutical, Xingbai Biotechnology, Ningxia Taiyixin, and Limin Co., Ltd. The fluctuation of the price of emamectin benzoate in the past two years is closely correlated to the two energy consumption control measures in 2021 and the off-patent chlorantraniliprole.
As emamectin benzoate and chlorantraniliprole are mutually replaceable and can both be used for the prevention and control of lepidopteran insect pests in rice and others, the off-patent chlorantraniliprole led to a reduction of the market space of emamectin benzoate in the short run.
Coupled with the energy consumption control measures and the expansion of production capacity, the price of emamectin benzoate continued to fluctuate and decline while the profit margin of enterprises continued to drop. Now it looks that due to the development of resistance to chlorantraniliprole, the mixture of emamectin benzoate with chlorantraniliprole or alternative application use of the two become the mainstream market.
In January 2024, due to the ″destocking″ impact, the price of emamectin benzoate once touched its bottom, which dropped to its lowest price in history. In addition, as the sale price was even lower than the cost, many enterprises had to shut down part or all of the production lines.
After February, as the production load run was low and the application season was drawing near, the market demand gradually increased, and the price began to pick up, which was relatively stable with a steady rise.
In July and August, the upstream technical material manufacturers gradually started the summer heat maintenance, and some began to shut down again, running at low production load and with limited capacity. This situation is expected to continue.
This year, the insufficient capacity running is the most influencing factor affecting the price. The spot supply of emamectin benzoate is tight, whilst manufacturers have difficulties in taking purchase orders; the downstream market demand is relatively good, whilst buyers are positive towards placing purchase orders; due to its nature of production, fermentation enterprises will need some time to resume the production run of the closed production lines, thereby the price will remain dull or rise for a short period of time.
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