KARACHI: While the US-Israel war on Iran has already entered its second month, commodity traders say markets have not witnessed panic buying during the last one month as consumers appear to have focused their buying on essential items rather than non-essential goods in anticipation of an adverse impact on their income as well as savings.

However, they believe that the market has yet to see the full impact of the higher transportation cost in commodity prices as manufacturers are fearing a further price jump in transporting fuels.

The Chainstore Association of Pakistan (CAP), said to be the largest trade body of organised retailers, said that “no major panic buying has been seen since the start of the Middle East conflict”.

Say stocks of essential items sufficient for three to four months

CAP Chairman Asfandyar Farrukh told Dawn that the people appear to have focused their buying on essential commodities, primarily because of recent and possible future hikes in fuel prices and related inflationary pressure.

Due to this factor, coupled with already reduced purchasing power of consumers, on the whole, Eidul Fitr shopping was “significantly lower than the last year” despite the fact that the footfall was similar to the previous year, he said.

Karachi Retail Grocers Association (KRGA) Chairman Rauf Ibrahim said that some social media pages had been creating panic in the markets, forcing the consumers to pile up stocks to avert any shortage of commodities at their homes in case the Iran war intensifies and created supply-demand crisis.

As a result, he said, the wholesale market saw a rush of retailers and ordinary customers to build up stocks.

Supporting a strict action against those spreading misinformation on social media, he made it clear that the market had sizeable stocks of essential commodities for the next three to four months and there is also no shortage of any commodity.

Mr Ibrahim said that imports of essential goods had remained steady, which is evident from the 18.4 per cent jump in July-Feb FY26 food import bill to $6.4 billion from $5.4bn in the same period last fiscal.

He said the wholesale prices of pulses, sugar, flour varieties, rice, etc, have declined by Rs10-40 per kg as a result of better supply situation from the local crop and steady arrival from imports.

Some retailers said that the market lacks any extra buying of essential commodities as it seems that consumers have so far been reluctant in engaging in extra buying of items in fear of the fallout of the Middle East conflict.

They said inflation-hit consumers still rely on lifting items in limited quantities as per their requirements rather purchasing commodities in bulk quantities like cash rich buyers.

Like past trends, the markets will see a rush of buyers in the beginning of a new month and it will remain till 15th as many people get late salary from their workplaces.

Published in Dawn, April 1st, 2026