August 20, 2007	Monday	Sha’aban 6, 1428

PHYSICAL activity on the Karachi wholesale market during the holiday-shortened week was relatively slow as consumers were not inclined to chase prices higher and only covered their minimum weekly requirements.

As the supply position improved a bit owing to steady arrivals of some of essential commodities from up country markets prices of some of them suffered fall, dealers said.

At the fag-end of the week, the market ended on a mixed note as prices of some of the essential items fell from the previous higher levels, others rose followed by reports of short supply on the open market, they said.

Prices of some varieties of pulses maintained their upward drive as short supply further pushed their prices up under the lead of gram whole and gram dal despite reports of steady arrivals from upcountry markets, they added.

But some others said as bulk of a record crop of gram during last year had been exported to India and some other countries, the local supplies were now under pressure, causing prices flare-up.

Some others were, however, of the view that pulses market was under the tight grip of leading importers who regulate it in line with their landing costs of the imported stuff.

The interesting feature was that sugar prices fell from the previous week’s higher levels on reports of fresh arrivals from Sindh mills on the wholesale market.

The selling prices of sugar in the private sector or on the open market are now at around Rs2,780 per 40 kg. Official announcement that sugar will not be imported during the year may again push prices higher during the holy month of Ramazan, next month.

Pluses on the other hand showed mixed trend but price changes were mostly modest and unlike the previous weeks and did not flare-up on short supply.

While beetle, gram whole and gram dal were quoted higher by Rs50 to Rs125 per 100 kg on reports of short supply, masoor whole and dal fell from the recent higher levels as some of importers sold substantial stocks.

Other types, including moong, were traded at the previous levels amid falling demand from the retailers and comfortable supply position.

Among industrial raw materials, guar suffered a fresh fall of Rs50 per 100 kg on reports of steady arrivals from Sindh market as stockists released their stocks after having to push prices higher.

Unlike the previous weeks, stray business was noted in the rice sector as local buyers covered positions. The IRRI-6 variety was marked up by Rs25 to Rs75, while all other types, notably basmati were held unchanged.

Barring bajra, which rose by Rs75, other cereals, including jowar, maize and barley were again traded at the previous levels.

Oilseed sector did not show much changes barring cottonseed, which fell and rose on in line with oil and cotton prices but on the other hand other major seeds, notably rapeseed, castor seed, til were held unchanged at the last levels amid slow demand from the exporters.

Oilcakes, however, remained in strong demand owing to pressure on ready supplies. Rapeseed cakes rose by Rs15, while cottonseed cakes tended higher by Rs25 to Rs40, finishing at the week’s higher levels.—M.A.