Sharp increase in pulse prices featured the trading on the Karachi wholesale commodity markets last week. This was followed by reports of pressure on ready supplies due to the slow arrivals from upcountry centres and a considerable fall in the imports.

However, there was no evidence of holding back of the stocks by importers, although leading among them have curtailed imports on account of higher prices being quoted by foreign exporters, dealers said.

A considerable decline in the release of the stuff by import houses and an active demand from the general consumers caused the price flare-up, they said.

Others attributed the sharp increase to pre-Ramazan buying by some wholesalers amid fears of further pressure on the supplies during sessions preceding Ramazan.

The general consumer, however, did not resort to panic-buying and awaited a fall in prices once the supply position improves. Arrivals from the upcountry markets are expected to pick up during the next couple of sessions and so are from the importers.

According to some importers a couple of import loads of the commodity are on their way and the supply position will improve after the ships unload the commodity.

Most price changes were recorded in the pulses sector, while all other essential counters remained stable around the previous levels as supplies matched the ready demand.

Industrial raw materials, notably oilseed and guar were also traded at the last levels as demand from the industrial units remained on the lower side — thanks to the reports of a comfortable ready position.

Sugar prices also remained stable at the previous levels despite millers’ threat to resume the new crushing season a bit late, sometimes in December owing to larger unsold stock of the previous crop. A modest fall of Rs5 was noted at the weekend session on stray selling.

Wheat on the other hand ruled mixed followed by conflicting reports about the size of arrivals from the upcountry markets. While prices of superior type rose by Rs10, its inferior variety fell by the same amount followed by the reports of slack mill demand.

The biggest increase was reported in the pulses barring beetle and moong which came in for stray selling and suffered a fall ranging from Rs10 to 40, but the biggest decline of Rs138 to 325 per bag was recorded in moong.

Masoor and masoor dal on the other hand posted gains ranging from Rs150 to 300 per bag followed by peas, gram whole, gram dal and urad, which rose by Rs45 to 75. Others were held unchanged.

On the rice sector, basmati and kernal variety rose by Rs50-100 on the reports of steady export demand, while Irri varieties were traded at the last levels owing to a comfortable ready position — thanks to larger new crop arrivals.

Cereals on the other hand depicted mixed trend amid alternate bouts of buying and selling, while maize resisted a fresh fall despite the reports of steady new crop arrivals. On the hand jowar came in for active selling and suffered fall ranging from Rs200 to 300 per bag. Barley and bajra on the other hand were quoted unchanged at the last levels.

Oilseed sector stayed quiet amid slow trading followed by the reports of fall in new crop arrivals of cottonseed from the Sindh ginneries. Prices remained stable owing to active local demand. Prices were held unchanged.

Til was also traded at the last levels and so did castorseed in the absence of demand from the private sector exporters and crushers. Arrivals of both from the upcountry markets were steady, which did not allow major changes in price pattern.

Oilcakes showed easy trend as the prices of both cottonseed and rapeseed cakes suffered fall ranging from Rs8 to 12 respectively, followed by the reports of larger arrivals from the upcountry markets and the renewed selling.—M.A