The Karachi wholesale commodity markets showed mixed trend as the prices of essential items were again quoted at the last levels on fairly comfortable ready position.

Arrivals from the upcountry trading centres were normal which in turn did not allow any major upward increase in wheat, sugar and rice amid slow trading.

The post-rain trading week reflected normal activity on all major markets — New Challi and some other trading centres where business in bulk is carried out.

There was again a relative quiet on the sugar export front as the Trading Corporation of Pakistan (TCP) did not resume fresh buying from the mills, as it intends to export another 0.1 million tonnes to foreign buyers through international tenders.

The TCP had already sold an identical quantity of the commodity to foreign buyers last month and the government had directed it to arrange the sales of another 0.1 million tonnes out of the exportable surplus of about half a million tonnes, dealers said.

According to reports, the TCP had also sold about 50,000 tonnes of rice from its stocks to some private sector exporters to meet the foreign demand of Pakistan’s traditional rice importers.

There was a relative quite on the wheat front without any official word on the future export of the commodity to protect the newly secured markets as was officially planned, dealers said. Prices rose by Rs5 on the revival of mill demand at the fag-end of the week.

Prices of major industrial items remained stable, thanks to steady arrivals from the upcountry market. The demand from the users was steadily picking up, they added.

But the prices of sugar did not show any change for the fourth week in a row and were firmly held around the previous level amid modest activity.

The supply position remained comfortable followed by the reports of fresh arrivals from the mills.

Rice sector showed quiet trend despite reports that a rice loader was in the port and loading the commodity after a gap of couple of weeks. Private sector exporters who still had stray stocks of the old crop were selling them at higher rates to foreign buyers.

Prices of basmati, both sela and kernal as well as Irri-9 Sindh did not show any change and were firmly held at the previous levels amid slow trading due to rains.

Irri broken was, however, an exception as it came in for stray buying and finished with a modest rise of Rs5 to 10 amid modest ready offtake.

While sugar prices were firmly held at the last levels amid reports of resumption of exports, gur came in for active buying and rose by Rs50. Desi sugar on the other hand were held unchanged.

Pulses showed mixed trend amid alternate bouts of buying and selling as prices of gram whole and gram dal rose by Rs25-60, while beetle came in for stray selling and was marked down by Rs35.

Other varieties remained pegged at the last close under the lead of masoor dal imported type, tuver and urad amid modest ready offtake at the unchanged rates.

Guar came in for fresh selling followed by the reports of fresh rains in the barani areas and weak demand from the processors and was quoted lower by Rs80 per bag.

Cereals showed quiet trend followed by reports of slack ready demand. Prices of jowar, maize, bajra and barley were again held unchanged at the last levels.

Oilseed sector lacked normal buying interest from the crushers and as a result prices of rapeseed were held unchanged at the previous levels but castorseed and til came in for stray selling and ended lower by Rs25-50.

Oilcakes stayed unchanged for rapeseed cakes, while cottonseed cakes suffered fall ranging from Rs5 to 10 on selling followed by reports of fresh new crop arrivals.—M.A