It has been hard for the glyphosate market. Just after the United Nations and the World Health Organization reported that there is no actual danger for glyphosate to cause cancer to human, glyphosate has again to face hindrance in receiving its registration approval and renewal registration in the European Union (EU) market.

In June 2016, the EU decided to re-authorize glyphosate for further 18 months, and in July, EU countries accepted related limiting conditions for using glyphosate, including forbidding adding POE-tallowamine into glyphosate herbicides; limiting applying glyphosate in special areas like parks and playgrounds; and protecting the underground water, especially the water for non-crop use.

However, the future of glyphosate still remains to be seen in the EU market.

"If glyphosate is banned after 18 months, then its circulation and development in the world will be greatly impacted – the sales will be hindered in the EU market and other countries might follow the EU's example and ban glyphosate”, said Chen.

At the moment, the glyphosate market is still in bad shape in China, with a sufficient market supply but a limited downstream demand especially from overseas.

In the first half of July, the ex-works price of glyphosate 95% TC was USD2,662/t, down 0.14% MoM, hitting a record low again. In Jan.-July, the average ex-works price is USD2,763/t, also a record low in recent 5 years, according to CCM price monitoring.

CCM predicted that the market is going to stay depressed in the long term with rigid demand. Consequence of that, the price will stay low.

Source: Agropages

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