Dealers said apart from slow arrivals from the upcountry trading centres because of rain for the second consecutive week, the other aiding factor was holding back of stocks by some of the leading stockists and importers.
The second monsoon rain spell in the lower and central Sindh disrupted normal arrivals for the second week in a row, which in turn pushed prices of some of the essential items for the fourth consecutive week, they added.
Forecast for more rain in could further accentuate price situation as consequent shortage of commodities may trigger a price flare-up in the absence of fresh arrivals, they said.
The fresh price flare-up was led by the pulses sector, notably imported stuff, as leading importers held back their stocks apparently to keep prices within the current higher levels, market sources.
Other essential items, notably wheat also showed a modest increase for the third week, although there was no pressure on supplies thanks to release of sufficient stocks from the government godowns to keep prices stable.
But there was relative quiet on the rice front despite modest physical shipments made against the deals. But the figure is modest as compared to previous large consignments.
However, prices of both IRRI and basmati varieties were held unchanged, although bulk of the ready business was confined to former varieties.
Market sources said the new crop was expected to start arriving by the next month and indications were that it was expected to much larger than the previous one as there was no shortage of the irrigation water during the current season.
Pulses again led the market advance as prices rose further on this counter in the absence of pressure on ready supplies partly because of slow arrivals from the upcountry markets because of rains.
The prices of peas rose by Rs25, Beetle, masoor whole and masoor, gram and gram dal and moong were quoted higher by Rs100 to Rs125 per bag amid light ready offtake.
Wheat followed them, which finished with an extended rise of Rs10 to Rs15 as arrivals from the Sindh markets were on the lower side and mill demand showed a significant increase amid mill fears of shortage of stocks.
Among the other essentials, rice sector stayed dormant as prices of major varieties including IRRI and basmati were firmly held at the last levels amid stray local business. IRRI-6 was an exception, which fell by Rs5.
Physical shipments against the forward deals were, however, maintained on the higher side as a rice loader left the Karachi port during the week after having loaded the commodity.
On the sugar front, it was difficult to pinpoint selling prices at the retailers end barring those being quoted at the utility stores. Another ship carrying 15,000-ton of the commodity arrived at the Karachi port during the week.
Prices of major industrial raw materials did not show much change and were quoted around the previous levels as processors demand remained on the lower side of the weekly average.
While guar seeds were quoted higher by Rs25, bajra rose by Rs100 for the inferior type, while its fine variety fell by the same amount on selling followed by reports of higher current crop.
Rapeseed on the oilseed sector came in for strong mill buying partly because of slow arrivals from the upcountry markets and partly to firm oil and cakes markets. All the varieties were quoted higher by Rs75 to Rs100 per 40 kg.
Other major seeds, notably cottonseed, til and castorseed on the other hand were traded at the previous levels as local supplies matched the crushers demand.
Oilcakes, both rapeseed and cottonseed lacked normal interest owing perhaps to rain and were firmly held at the previous levels amid slow ready offtake.—M.A.