NEW DELHI: Price of psyllium husk—popular as ‘isabgol’ in India—is rising in the spot and future markets because of low production, and traders said the rates in the weeks ahead would depend on purchases by big companies including ITC, Dabur, Perrigo Company and Proctor & Gamble. According to traders, buyers are waiting for farmers and stockists to offload stock, which would reduce its price. They said companies are purchasing less because of the high price.
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“Everyone is buying—from ITC to Dabur to Proctor and Gamble—but in small quantities. A clear trend on prices will emerge by October,” said Nirav Patel, owner of Mangalmurti Psyllium Industries. India is the largest exporter of psyllium, which has a huge market in the US, China, Japan and Australia. Spot prices range from Rs 83/kg to Rs 85/kg, while on the Indian Commodity Exchange, prices for October delivery were between Rs 92/kg and Rs 93/kg. Manoj Jain of Indore-based IndiaNivesh Research said prices may reach Rs 100 a kg by October. Niraj Wadhwa, partner, Siddhpur Sat Isabgol Processing Company, said prices have risen by 20% since last year. “We expect demand to pick up from USA, Europe and other places. The contracts for future deliveries in January, February and March are ...
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