Physical trading on the Karachi wholesale commodity markets during the previous week remained slow in the absence of strong demand both from the retailers and wholesalers owing partly to higher prices.

Much of the activity remained confined to some of the essential items offered at the lower levels but elsewhere the activity remained relatively slow.

Floor brokers said the lifting of ban by Indian high court on export of pulses to Pakistan was expected to have a stabilising impact on the local prices.

The consignments from India — both by sea and overland route — are expected to arrive here during the next two weeks or so, which could push prices of gram and moong downward from the current higher levels, they said.

Already some of the importers, who were holding positions in the imported stuff, had started releasing stocks in part and the pace of decline in price may be accelerated after the consignments from India arrive, they added.

Arrivals from the upcountry markets, notably from Sindh showed an improvement as there was no report of fresh rain and cargo haulers lowered their freight rates, floor brokers said.

Prices of pulses are on the decline but it is pretty difficult to tell the actual fall in rates, which will largely depend on the supply and demand factors.

On the export front, physical shipments of rice against forward deals were resumed after two weeks lull and a vessel was berthed at the Karachi port to load 12,000 tons of rice.

Prices of both IRRI and fine varieties including sela and basmati varieties were held unchanged, although much of the activity remained confined to IRRI-6 from Sindh.

Some of the industrial raw materials also showed signs of softening under the lead of guar seed on reports of higher new crop prospects owing to rain in the major growing areas of the Sindh belt.

There was relative quiet on the sugar front as supply position remained a bit comfortable thanks to steady arrivals from the upcountry markets and the import channels.

After several weeks of steady rise, essential commodities came in for active selling and generally fell where changed but most of them were still ruling sharply higher.

The decline was led by the pulses sector followed by reports that some consignments from India will arrive here next week after lifting of ban on export.

All the major items, notably gram whole, gram dal, masoor whole and some others were quoted lower by Rs50 to Rs100 but the largest decline of Rs200 was noted in masoor dal from India.

Some varieties of rice, notably IRRI-6, IRRI broken and sela basmati ruled easy on selling prompted by reports of falling export demand and steady arrival of stocks held by the upcountry brokers.

Wheat on the other hand did not show much change as there was no pressure on ready supplies because of steady arrivals from the upcountry markets and falling mill demand.

Another ship loaded with 12,000 tons of sugar arrived during the week but there was no major changes in the selling prices at the retailers end which varied from area to area.

Among the industrial raw materials, guar seed posted a fresh fall of Rs50 per bag followed by reports of a higher new crop in Sindh owing to heavy rain at the sowing time in the growing areas.

Cereals on the other hand came in for active support followed by reports of a considerable fall in arrivals from the Sindh market. Both maize and bajra were leading among them, up by Rs50 to Rs100, major rise of Rs250 per bag being in bajra.

Oilseed sector did not show much change as supply position remained fairly steady. Major seed including cottonseed and rapeseed were again held unchanged and so did til, but castorseed rose by Rs50 on reports of fresh export enquiries and active local demand.

A sharp price increase of Rs150 per bag in cottonseed cakes on short supply of new crop highlighted the trading on the oilcake counter where rapeseed cakes were again held unchanged.—M.A.