THE wholesale Karachi commodity markets showed stray changes in the prices of essential items mostly on the lower side as some commercial traders and importers liquidated their long positions fearing further fall.

The market sources said that the arrivals from upcountry markets were fairly steady and did not allow major changes on any essential counter despite reports of slow ready demand.

Some types of pulses and wheat were leading among them but the decline was too small to attract buyers and some retailers made modest support at the falling trends.

Rice was traded mostly around previous level as prices remained stable around despite steady export. A rice loader was in the process of loading a consignment of 15,000 tons for an Iranian destination. It left the port after accomplishing the task. Another ship was due by next week to load a consignment.

But there was no good news from the rice sector where prices stayed firm at around Rs2,500 per bag. However, the commodity was said to be selling at over Rs30 per kg in retail, dealers said.

However, IRRI rates are expected to come down once new crop from the Sindh rice belt arrives by next month.

There, however, were no changes in sugar prices for the fourth week in a row. These were held unchanged as millers were reported to be delivering the regulated supplies to the market to keep the prices steady around the current level of Rs2480 per bag.

Reports of arrivals of three consignments of the commodity from various sources - making the total of about 50,000 tons - failed to pull the prices down as they are yet to find retail outlets, they said.

The TCP has floated another international tender for import of 50,000 tons from various sources with foreign bidders expected to win.

According to sources sugar in the world market had soared on reports that Pakistan was to buy 0.1 million tonnes to make up the shortfall and lower its domestic prices.

The industrial raw materials lacked normal trading interest as the processors were not inclined to cover their positions at higher levels. They preferred to keep to sidelines on hopes of a fall in prices after arrivals improve.

Physical activity on ready counter remained light as buying support remained low followed by the reports of steady arrivals from the upcountry markets and comfortable supply position.

There, however, were some changes on essential counters under the lead of wheat which shed another Rs5 per bag as supplies matched the ready-mill-demand. Moreover, the release of stock by commercial houses was another adverse factor.

Barring moong, which suffered a fresh fall of Rs100 on slackened demand, rest were traded at previous levels followed by reports that the importers were active sellers at current levels and were not inclined to hold long positions.

Major industrial raw materials maintained their previous level under the lead of guar barring barley which posted a modest rise of Rs10. Others were also held unchanged.

Cereals lacked normal trading interest as supplies matched local demand thanks to steady arrivals from the upcountry market. Maize was an exception which fell by Rs25 on selling prompted by larger arrivals from the upcountry markets.

Oilseed sector stayed quiet under the lead of cottonseed, til and rapeseed which were traded at last levels barring castorseed which was marked down on selling caused by steady arrivals from the Balochistan markets and slackened export demand.

Oilcakes on the other hand were held unchanged for rapeseed cakes, while cottonseed fell by Rs5 followed by reports of weak oil market.—M.A.