But unlike the previous weeks, ready demand from the retailers was on the lower side of daily average which in turn prompted selling from some wholesalers thus pushing the prices modestly down.
There, however, were no changes in white sugar prices which were firm around previous levels despite the arrivals of two ships loaded with 30,000 tons of the commodity.
Both the consignments were believed to have been arrived from India, including one from Dubai, dealers said adding the prices were expected to come down once the imported stuff reached the retail outlets.
More consignments, both from the TCP and private sector, were due in next couple of weeks and were expected to pull the prices down in coming days, they said.
The cereal sector was relatively quiet where prices were unchanged with reports of scattered physical activity in some, others said. New crop arrivals from the Sindh rice belt were still far away and old stocks were dwindling with the prices ruling on higher side due to steady export demand, they said.
According to them there were no physical shipments of the commodity against the forward sales as no rice loaders called on the port in the last two weeks which points toward the absence of fresh deals.
While IRRI-6 and broken declined by Rs25 to 75 per bag, sela type of basmati was quoted higher by Rs200 per bag reflecting pressure on ready supplies. There were also some import enquiries from the Gulf importers.
After initial sluggishness, prices of some essential items rose sharply followed by the reports of pressure on ready supplies and holding back of stocks by leading importers.
Pluses led the advance with moong and urad leading the sector rising by Rs100 to 250 per bag, respectively amid reports of short supply. Despite a cut in the withholding tax, prices after a brief bearish spell rose again.
Importers said that there had been an interruption in imports due to higher prices prevailing in foreign markets which in turn left a bullish impact on local rates as was reflected by a steep rise in some imported varieties.
Masoor whole imported from Iran followed them up by Rs50 while all other types were traded at previous levels under the lead of gram whole and gram dal and beetle.
On other essential counters wheat showed a modest decline of Rs5, while rice varieties turned mixed.
Sugar stayed unchanged despite reports of arrival of three imported consignments of 50,000 tons. Both, the mills and the commercial traders were holding back stocks to keep prices around current levels. Dealers expected the prices to come down once the 0.1 million tons of the imported material finds way into retail outlets in coming weeks. The TCP had imported it on the government directives to ease down the prices. Private sector too, had brought in modest quantities due to duty-free imports.
Cereals witnessed modest trading at previous levels barring maize and barley which suffered fall ranging from Rs10 to 25 with bajra and jowar holding on to last levels.
Among industrial raw materials, guar came in for stray support from the processors and rose by Rs25 to 50 per bag despite reports of rain in guar belt of the central Sindh.
Oilseed sector remained pegged at last levels under the lead of rapeseed and cottonseed but til rose by Rs25 on the revival of export demand and ready absorption of steady new crop arrivals from the Sindh markets.
Oilcakes showed divergent trend while rapeseed rose by Rs2 to 4 in sympathy to higher oil rates. Cottonseed cakes fell by Rs10 owing to a weak forward market.—M.A.