Easy conditions prevailed on the Karachi wholesale commodity markets last week on selling by commercial houses, followed by rain reports and predictions of higher production.

Although arrivals were interrupted from the upcountry markets owing to rains but prices fell on the hopes of bright crop prospects and falling ready demand.

Ready activity was relatively slow due to the rains and prices generally fell amid falling demand both from the retailers and the wholesalers, dealers said.

Bulk of the selling remained confined to pulses sector followed by reports of oversupply because of larger post-budget imports by commercial importers and hasty selling on the revival of demand from Punjab dealers, they said.

Export front witnessed quieter conditions as both sugar and wheat did not show much change and traded at previous levels.

But at the fag-end of the week, wheat suffered a modest decline of Rs5 to 10 on selling prompted by reports of fresh arrivals from the Sindh markets.

There was also a relative quiet on the sugar sector followed by reports that arrangements are being made at official level to sell exportable surplus well before the start of new crushing season late in October.

Prices remained stable around previous level amid light ready offtake. Guar again suffered largest decline followed by reports of rain in major growing areas.

Stockist fearing a good crop hastened to liquidate in part their long positions. It posted a fresh fall of Rs135 per bag.

But local processors are reluctant to resume buying as current rates are claimed on the higher side of export parity levels, brokers said. Ready offtake remained far below the normal.

Rice sector remained under pressure on late week selling followed by reports that export demand is drying up for no apparent reasons.

Although bulk of the stock from previous crop has been exhausted, stray lots are lying with them.

Prices of all varieties fell in unison under the lead of broken basmati, which was quoted lower by Rs200 to 300 per 100kg bag.

Prices of basmati and kernal and sela types of basmati were eased by Rs25, largest decline of Rs100 being in kernal and sela varieties, while Irri-broken fell by Rs10, with Irri-9 Sindh unchanged at previous level.

Pulses again showed mixed trend for third week in a row in the absence of strong demand and suffered fresh fall ranging from Rs20 to 25 for gram, gram dal while urad, peas, beetle posted gains ranging from Rs30 to 100, largest rise of Rs300 per bag being in masoor dal.

Cereals showed quiet trend followed by reports of active arrivals from the upcountry markets. Prices of jowar, maize and bajra were firmly held at previous levels, barley came in for modest selling and fell by Rs5 to 10.

Oilseed sector showed mixed trend amid active trading as prices of rapeseed suffered a fall of Rs20 followed by the reports of weak oil market.

Castorseeds were actively traded on the lower side on active selling from local dealers followed by the reports of steady arrivals from Balochistan.

Sindh variety showed a decline of Rs25, while others were quoted unchanged.

Til resisted fresh selling after the revival of demand from exporters and was quoted unchanged on the reports of pressure on ready supplies owing to fall in arrivals from the upcountry markets.

Oilcakes showed divergent trend. While cottonseed cakes suffered fresh fall of Rs7 to 10, rapeseed cakes rose by Rs5.—M.A