QUITER conditions prevailed on the post-Eid holiday Karachi wholesale commodity markets trading week as prices did not show much changes in the absence of retailers.

Arrivals from the upcountry markets were below normal as some of the cargo haulers remained busy in transporting leftover sacrificial animals back to their original abodes both in Sindh and Punjab.

But there was no pressure on ready supplies but what was lacking was the buyers, most of whom have made extensive buying in the pre-Eid holiday sessions fearing price flare-up during the post-Eid holiday trading, brokers said.

The normal activity is expected to be resumed by the next week but indications are that prices would remain stable around the current levels as by that time arrivals from the upcountry trading centres are expected to get normal.

Prices of essential items were mostly quoted unchanged at the pre-Eid holiday levels but some of the industrial raw materials came in for modest support and showed minor changes.

Some of the industrial raw materials were, however, an exception, which came in for modest support by the industrial users but prices did not show much change despite reports of disruption in arrivals, market sources said.

Prices of sugar were quoted modestly lower on the retail counter as most of the consumers opted for the commodity through the official selling outlets, they said adding there were reports that some of Sindh mills also sold modest quantities of the commodity to the local wholesalers.

Wheat also stray static around the previous levels but dealers said it could rise from the current levels after private sector managed to get some export orders against the specified quantity of half a million tones, they added.

On the export front, physical shipment of rice against forward deals were maintained on the higher side as rice loaders remained in the port and left with consignments.

Another rice loader, George is in the port and is loading the commodity and is expected to sail out by early next week. Private sector rice exporter said they have signed fresh export orders with some other countries shipments against which will by made by the end of the current month.

According to market sources there is sizable exportable surplus of rice, notably IRRI varieties owing to a bumper crop of 5.5m tones. About 2.5 tonnes of IRRI varieties will be export exported during the current year in addition of fine types, notably sela and kernel.

The post-Eid holiday activity remained slow and was confined to some secondary counters sans the essential ones but prices changes were fractional.

Supply position showed a modest improvement at the fag-end of the week, which in turn did not allow any fresh rise in prices of essential commodities.

Wheat was, however, an exception, which attracted post-Eid holiday mill demand and was marked up by Rs5 but all other essential items stayed unchanged barring some type of pulses.

Urad imported variety was an exception, which came in for modest selling as some of the importers released stocks and in the absence of demand prices were quoted lower by Rs70 per bag. Others including gram whole and gram dal, which have been in strong demand in pre-Eid holiday sessions remained stable around the previous levels, although some of the dealers were active buyers around the previous levels.

Rice sector did not show much activity as private sector exporters were conspicuous by their absence. As a result, prices of IRRI broken type fell by Rs15, while other IRRI and fine type of basmati were quoted unchanged at the last levels.

Major industrial materials lacked normal trading interest and were quoted unchanged at the previous levels under the lead of guar seed and some others.

Cereals on the other hand came in for stray selling and were marked down by Rs25 for maize on selling caused by new crop arrivals. Bajra and jowar were held unchanged.

New variety of barley came on the board and was quoted sharply higher by Rs500 around Rs1,600 to 1,700 per 40 kg, reflecting a short crop.

Oileed sector lacked normal trading owing to comfortable supply position. Prices of major seeds, including cottonseed, rapeseed, castor seed and til were held unchanged and so did oilcakes.-—M.A.