Our producer’s report is as follows:
Existing Market:
Currently, the market is stable, however, showing peaks randomly (5 to 7 % either side) which, we believe, will not be consistent, as till new crop arrive, there is approx. 5 to 7 weeks left. Looking at the current supply vs demand, it seems that there will be no much carryover this year. On the positive notes, we are not expecting significant variation in prices this year till new crop arrive hence recommending to buy stock up to May 2024 to eliminate stock-out situation. The current market update is given below:
Psyllium seed standard quality: INR3500 per 20 kg
Psyllium Seed Premium Quality: INR3900 per 20 kg
Daily arrival: 1500 bags of 75 kg seeds from farmers
Daily trade: 6500 bags (farmers + traders)
2024 Crop & Market:
Psyllium Crop 2024 is ripening in the field and is expected to start arriving in the market by mid-March 2024. Looking at the early estimate, it seems that this year the crop is significantly good in terms of quality and quantity. However, we still need to wait for 4 to 6 weeks, as this duration is so important for a seeds to develop and get mature well with pro-environmental condition, considering there will not be any surprises e.g. natural disaster, unseasonal rain and so on. We are keeping close watch on the crop development and we will be able to comment in detail after a detailed field survey, which we have planned early March. We will keep you posted accordingly with our detailed crop survey report.
Usually, crop arrival starts slowly from Mid-March and it reached to the peak from early April onwards. We usually experience the mixed seeds (carryover from previous year and fresh seeds) in early stage (mid-march) arrival. Followed by all fresh seeds during peak arrival duration which will be from April onwards and that is potentially good quality seeds. The carry over stock of 2023 will be in negligible this year. The demand from international market is so positive and raw material raw material prices also looks firm.
Further due to the Red Sea / Suez canal issue the transit time has been also increased around 2 weeks. So please plan your requirement accordingly.
Considering the above exiting market and forecasting details, we suggest you to buy till May 2024, and hold your further buying till new crop arrives.
