There has been an drastic change in the raw material prices in last one month. Due to COVID19 situation, the psyllium seed price here is very firm. The demand for Psyllium has increased during this pandemic period and on the other hand the raw material supply is gradually decreasing.
During the lockdown period in India the interstate borders were closed and movement of public transport was also restricted. Due to this supply of raw materials and movement of workers was hampered. Also there were strict work guidelines for factories, due to which the output of factories were low. All this and speculation activities in the market caused the price to go up.
At this moment it is very difficult to say exactly which way the market will go. The best strategy for buyers would be to cover requirements without waiting too much longer as markets may continue to move.
Contact Scalzo for your Psyllium Requirements
Ph: 03 9245 7000