RELATIVE trading was witnessed on the Karachi wholesale commodity markets during the last week as supply position remained fairly comfortable owing to steady arrivals from the upcountry markets. Some of the imported type of pluses were, however, an exception which showed fresh rise as supplies were far below the daily demand. Moreover, reports of holding back of stocks by some of importers was claimed to be another supporting factor, dealers said.
But as the retailers and general consumers were not in a mood to buy at the higher rates, ready business remained light, notably in masoor varieties imported from various countries, they said. Other imported varieties were generally held unchanged at the previous levels.
Unlike the previous week, prices of gram whole and gram dal were held unchanged despite steady new crop arrivals both from the Sindh and the Punjab markets.
Among the other essential items, wheat prices fell further modestly as leading stockists were not inclined to flood the market with new crop supplies. Prices did fall but modestly, market sources said.
Sugar on the other hand did not show any softening despite steady arrivals from some of the local mills and larger imports as local demand is not being fully met.
Rice also maintained a bullish outlook on strong exports by the private sector. A rice loader is in the port to load about 15,000 tons of the commodity of African destination. Steady export is keeping prices fairly steady but at the previous levels.
They predict that lifting of inter-province ban on wheat movement despite active buying being made by the mills, private sector hoarders, prices are expected to fall to previous levels as the free flow of commodity from one province to the other will continue to haunt stockists, they said.
However, processors were worried over the steep increase in prices of some industrial items amid reports of slow arrivals from the Sindh markets. Guar was leading among them, which rose to new peak levels followed by reports of unwillingness of leading stockist to sell at the lower rates.
But on the other hand prices of some major oilseeds, notably rapeseed continued to show fresh fall as new crop arrivals from the Sindh markets remained fairly steady.
Barring wheat and sugar, which suffered fall ranging from Rs20.00 to 40.00 per bag after holding on to their last levels, came in for active selling as the supply position improved.
On wheat sector steady crop arrivals was chief bearish factor, while on the sugar front released stocks of the imported stuff forced stockists to sell fearing further fall in prices.
Gur and sugar desi on the other hand did not toe the line of sugar and rose by Rs50 to Rs100for the both amid reports of strong demand from the neighbouring country.
Pulses on the other hand showed sharp rise under the lead of masoor whole and masoor dal, which fell by Rs200 followed by some others, including gram. Others were firmly held around the previous levels amid active trading.
Reports of pressure on supplies owing to less imports was said to be the chief factor behind the sharp increase in prices. But the supply situation is expected to ease as some ships loaded with the commodity are due next week.
Rice sector ruled firm as exports are being maintained at a steady pace. In the backdrop of active demand for the local varieties, notably IRRI.IRRI broken was an exception which suffered a modest decline of Rs20.
Some industrial raw materials including guar and bajra came in for strong buying from the local processors and were quoted higher by Rs40 to Rs50 but Jowar was held unchanged while barley fell sharply b y Rs.175.00 as Supplies position improved.
Oilseeds showed easy trend as prices of castor seed and rape seed were quoted lower by Rs25.00 to Rs30 on selling triggered by reports of steady new crop arrivals from the Sindh markets. Til was held unchanged.
Oilcakes rose by Rs21 for rapeseed cakes despite fall in rapeseed, while cottonseed cakes were held unchanged.
