For the Quarter Ending September 2025
North America
• In United States, the Thiamethoxam Price Index fell quarter-over-quarter in Q3 2025, due to weakened agricultural demand.
• Production costs for Thiamethoxam rose in Q3 2025, with PPI increasing 2.6% year-over-year in August 2025.
• Thiamethoxam demand outlook remains challenged by declining farm income and overall market deterioration.
• The Thiamethoxam price forecast suggests continued pressure from softening demand and inventory adjustments.
• CPI rose 3.0% year-over-year in September 2025, impacting farmer profitability and Thiamethoxam demand.
• Industrial production grew only 0.1% year-over-year in September 2025, signaling a slow-growing industrial sector.
• US chemical manufacturing activity contracted in Q3 2025, with declining production levels affecting Thiamethoxam supply.
• Retail sales increased 5.42% year-over-year in September 2025, providing some support for consumer demand.
• Unemployment at 4.3% in September 2025 and declining consumer confidence (94.2) indicate economic softening.
Why did the price of Thiamethoxam change in September 2025 in North America?
• Weakened agricultural demand for crops in Q3 2025 reduced overall market pull for Thiamethoxam.
• Increased chemical input and raw material costs for US manufacturers raised Thiamethoxam production expenses.
• Contracted US chemical manufacturing activity and declining production levels impacted Thiamethoxam supply.
APAC
• In China, the Thiamethoxam Price Index fell quarter-over-quarter in Q3 2025, influenced by persistent chemical overcapacity.
• Thiamethoxam production costs declined in Q3 2025 as PPI decreased by 2.3% year-on-year in September 2025.
• Demand for Thiamethoxam faced headwinds from a contracting Manufacturing Index in September 2025, signaling industrial slowdown.
• Consumer confidence at 89.6 in September 2025 indicated pessimism, dampening overall agricultural input demand.
• China's grain output strengthened in 2025, providing some underlying support for Thiamethoxam demand.
• Global chemical industry overcapacity, particularly from China, maintained tight margins for producers in Q3 2025.
• Retail sales increased by 3.0% year-on-year in September 2025, offering slight support for food demand and agricultural chemicals.
Why did the price of Thiamethoxam change in September 2025 in APAC?
• Persistent chemical overcapacity in China exerted downward pressure on Thiamethoxam prices.
• Falling PPI by 2.3% in September 2025 and slipping upstream prices reduced production costs.
• Weak consumer confidence at 89.6 and a contracting Manufacturing Index dampened Thiamethoxam demand.
Europe
• In Germany, the Thiamethoxam Price Index rose quarter-over-quarter in Q3 2025, driven by robust agricultural demand.
• Thiamethoxam demand was bolstered by strengthening wheat and rapeseed production in Q3 2025 due to favorable weather conditions.
• Increasing pest proliferation in Germany during Q3 2025 further supported demand for crop protection chemicals.
• Thiamethoxam production costs remained elevated in Q3 2025, despite a -1.7% PPI decline in September 2025.
• European natural gas prices remained substantially higher than the United States in Q3 2025, impacting chemical producers.
• Germany's industrial production declined by -1.0% in September 2025, indicating a contracting supply environment.
• The Manufacturing Index contracted in Q3 2025, reflecting a slowdown in overall industrial activity.
• Retail sales increased by 0.2% year-over-year in September 2025, with consumer confidence stabilizing.
• The 2.4% CPI increase in September 2025, alongside a 6.3% unemployment rate, indicated tempered consumer spending.
• The Thiamethoxam price forecast suggests continued stability or slight increases, influenced by ongoing supply challenges.
Why did the price of Thiamethoxam change in September 2025 in Europe?
• Elevated European natural gas and German electricity prices increased Thiamethoxam production costs.
• Robust Thiamethoxam demand was driven by strengthening wheat and rapeseed production.
• Industrial production declined -1.0% in September 2025, tightening chemical supply.