March 10, 2003	Monday	Muharram 6, 1424

Mixed trend was witnessed on the wholesale commodity markets, as unlike the past few weeks, arrivals from the upcountry trading centres remained fairly steady.

As there was no pressure on the essential commodities’ supply, prices rose and fell on demand and on the rolling by brokers from one counter to the other, dealers said.

Some essential items, notably wheat eased from the current high levels on local selling, triggered by the reports that Pasco had invited bids to sell its surplus stocks, to clear the backlog before the new crop arrives, they added.

The official move, to pull the sugar industry out from uncertainty, seems to have worked well as the prices rose from the current levels despite steady new crop arrivals from local mills.

The Trading Corporation of Pakistan’s entry into sugar trade for easing the surplus stock crisis and selling it to foreign countries are claimed to be in right direction.

The other factor, which increased the prices was the report of a rise in tender from 12,000 to 30,000 tonnes by the TCP, which proved that the TCP had hit the export outlets, notably deficient countries in Gulf and Africa.

Pluses, which have been under pressure for the last couple of weeks turned mixed but remained in strong demand from the Punjab traders and finally ended on a mixed note.

Major industrial raw materials — notably on oilseed sector — remained under pressure and eased under the lead of rapeseed on selling followed by steady new crop arrivals from Sindh markets.

Guar on the other hand came in for fresh mill-support followed by reports that the current crop too, is short of target, and the prices could rise further in next couple of weeks.

Sugar industry may not be out of the red despite official efforts to bail it out, but the TCP’s entry did avert fresh decline in the prices.

Sugar maintained the recovery trend but resisted fresh decline and finished at previous levels because of the fall in arrivals from local mills. Prices were quoted higher by Rs20 per bag. Desi sugar on the other hand remained under pressure and fell further by Rs100, while gur remained pegged at the last levels.

Wheat on the other hand came in for stray selling followed by some bearish reports from the export front and fell by Rs10 amid slow trading.

Pulses showed mixed trend on the revival of demand from Punjab dealers, and the pressure on ready supplies. Tuver, urad, and gram dal were quoted higher by Rs25, while moong, gram, beetle, peas suffered fall ranging from Rs10 to 100. The largest decline of Rs125 being in moong imported variety.

Guar stayed firm amid slow trading despite reports of fall in new crop arrivals and was marked up by Rs25 per bag. Rice sector ruled quiet, followed by reports of short supply but prices of all varieties, including the fine types of basmati were traded at previous levels amid dull trading.

Cereals stayed firm. Jowar came in for fresh support and rose by Rs50, maize posted a gain of Rs10 but bajra came in for active selling and fell by Rs30 to 50 followed by reports of steady arrivals from Sindh markets. Barley was held unchanged.

Oilseed sector showed an easy trend on fresh selling on the reports of steady new crop arrivals from central Sindh markets. Prices of rapeseed from Mirpurkhas suffered sharp fall ranging from Rs15 to 20. Til on the other hand fell by Rs50 on local selling but castorseed was held unchanged.

Oilcakes remained under pressure followed by the reports of steady arrivals. Both cottonseed and rapeseed cakes were traded lower by Rs2 to 23 respectively, followed by active trading.—MA