April 24, 2008	Thursday	Rabi-us-Sani 17, 1429

KARACHI, April 23: Rice prices restarted upward drive and finished higher by Rs3,000 to Rs5,000 per ton on Wednesday on strong demand from exporters and big traders, market sources said.

According to the sources, prices of Irri-6 increased from Rs35,000 to Rs38,000 per ton, D-98 and P-386 rice surged from Rs59,000 to Rs64,000 per ton and Super Basmati increased from Rs70,000 to Rs80,000 per ton.

On fears of stern action against hoarders, profiteers and speculators, prices of all rice varieties came crashing down from their record high level of Thursday (April 17) and finished lower by Rs6,000 to Rs15,000 per ton on Monday when a meeting between rice exporters and government officials was going on in Islamabad.

But as the much expected regulatory measures were not announced after the meeting, the market once again came under the grip of the ‘evil forces’ which are bent upon to make huge profits, the sources said.