For the Quarter Ending September 2025
North America
• In United States, the Propiconazole Price Index fell quarter-over-quarter in Q3 2025, influenced by easing feedstock costs.
• Propiconazole production costs faced upward pressure from a 2.6% PPI increase in August 2025, despite softened key feedstock prices.
• Demand outlook is mixed; record high corn production contrasts with weakening consumer confidence in September 2025.
• Strong retail sales, up 5.42% in September 2025, and a 4.3% unemployment rate supported agricultural demand.
• Chemical manufacturers accelerated destocking in Q3 2025, shrinking inventories amid contracting industrial activity.
• US agricultural export volumes grew significantly in Q1-Q3 2025, but chemical trade flows are projected lower.
• Lower Henry Hub natural gas spot prices in August 2025 reduced energy costs for Propiconazole production.
• Persistent inflation, with CPI up 3.0% in September 2025, impacted farmer operational costs and consumer purchasing.
Why did the price of Propiconazole change in September 2025 in North America?
• Propiconazole production costs eased due to softened chlorine, propylene, and benzene prices in Q3 2025.
• Weakened major customer market demand for chemicals in Q3 2025 contributed to lower buying interest.
• Declining consumer confidence to 94.2 in September 2025 tempered discretionary spending.
APAC
• In China, the Propiconazole Price Index fell quarter-over-quarter in Q3 2025, influenced by deflationary pressures and chemical overcapacity.
• Propiconazole production costs faced downward pressure in Q3 2025 due to overcapacity and slowing benzene feedstock demand.
• Overall Propiconazole demand outlook remained stable, supported by a projected bumper harvest and growing fungicide demand.
• China's Manufacturing Index contracted in September 2025, signaling an economic slowdown impacting agricultural input investment.
• Industrial Production increased 6.5% year-over-year in September 2025, providing underlying economic support for demand.
• Consumer Price Index decreased 0.3% year-over-year in September 2025, indicating weak consumer demand.
• Producer Price Index fell 2.3% year-over-year in September 2025, reflecting weak industrial demand and lower input costs.
• Significant chemical overcapacity in China in 2025 led to ample Propiconazole inventory levels.
Why did the price of Propiconazole change in September 2025 in APAC?
• Deflationary pressures from a 0.3% CPI decrease in September 2025 reduced farmer profitability and input investment.
• Overcapacity and falling benzene feedstock costs exerted downward pressure on Propiconazole production expenses.
• A contracting Manufacturing Index in September 2025 indicated an economic slowdown, dampening overall market sentiment.
Europe
• In Germany, the Propiconazole Price Index fell quarter-over-quarter in Q3 2025, influenced by reduced production costs.
• Propiconazole production costs trended lower, driven by a -1.7% year-over-year decline in producer prices in September 2025.
• Agricultural demand for Propiconazole remained robust in Q3 2025, supported by strengthened crop production.
• Overall chemical demand in Germany experienced weakness in Q3 2025, impacted by a contracting Manufacturing Index.
• European natural gas prices, a key feedstock, showed a year-over-year decline in Q3 2025, easing cost pressures.
• German industrial production declined by -1.0% in September 2025, indicating a weaker manufacturing environment.
• Elevated raw material costs and 2.4% CPI in September 2025 pressured overall production expenses, while retail sales rose 0.2%.
• The 6.3% unemployment rate and stabilizing consumer confidence in Q3 2025 suggest persistent economic slack and stable food spending.
Why did the price of Propiconazole change in September 2025 in Europe?
• Producer prices declined -1.7% year-over-year in September 2025, reducing Propiconazole manufacturing costs.
• Industrial production decreased -1.0% in September 2025, reflecting a weaker chemical manufacturing environment.
• Robust agricultural demand in Q3 2025, driven by strong crop production, partially offset price declines.
