Oilseeds

Psyllium: encouraging outlook for 2024 crop

March 27, 2024 at 2:59 PM , Der AUDITOR
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NEW DELHI/GARSTEDT. Production prospects are much better for psyllium in India than last year, despite the heavy rains witnessed at the start of March. Price fluctuations will also be less of an issue.

Limited damage

As Neupert Ingredients report the situation in India is totally different to last year. Heavy springtime rains and sandstorms reduced yields by 8-10% in 2023, but the rain witnessed in March has not impacted the crop this year. The extent of the damage is limited.

Arrivals will peak over the next two to three weeks, which should prompt the market to turn. Prices have risen in the last few weeks and should start to decline as soon as arrivals pick up. This may in turn, however, also boost demand and cause a new uprise.

Carry-over stocks anticipated

While speculators were able to drive the market last year as supplies were limited, carry-over stocks are to be expected this time round as production has risen. This will help the market to turn more rangebound and limit volatility. Yet, it should be noted that demand is on the rise in China, Russia and the Middle East, which will provide some support.

 

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