Much of the activity remained confined to rice sector where exporters covered their positions against forward sales of IRRI varieties, brokers said.
But both retailers and bulk consumers did not make large buying at the falling prices amid reports of further fall in prices as supply position was improving.
Release of larger stocks by some importers of pulses amid fears of further decline in prices as imported consignments are steadily arriving, could start a price war, dealers said. Some type of pulses led the decline of essential items on active selling by both the importers and the wholesalers as demand from Punjab traders remained on the lower side, they added.
But, on the other hand, prices of IRRI varieties showed sharp increase followed by reports of larger forward sales made by the private sector exporters to various countries including some new finds one, they said. Along with fine varieties, notably sela and kernel, broken type of basmati also came in for strong support from exporters and rose sharply by Rs200 per bag.
Market sources said demand for local rice is on the higher side. Iran and some African countries were on the top of the list. They said market talk of a substantial sale to China by private sector exporters was an aiding bullish factor, which pushed prices to new highs despite reports of a bumper crop of 5.5m tones.
However, there was no news on the wheat export front by private sector owing to lower purchase prices offered by importers from some of countries including Gulf, they added.
The general perception is that export of wheat would be a bit uneconomical, as prices being offered by foreign buyers are below base rates, some others said.
The recent agreement between the government and mill owners at ex-factory selling price of Rs31 per kilo did not have any immediate negative impact on the ruling prices, which are said to be well above this rate on the open market.
After mid-week much of the activities remained confined to rice sectors as exporters covered their forward sale positions to meet their physical shipment deadlines. As a result, prices of almost all types rose under the lead of IRRI-9, which was quoted higher by Rs185 to Rs200 per bag of 100 kg. IRRI-6 followed it, up Rs40 and IRRI broken by Rs5.
The interesting feature was that broken basmati, which was dormant for the last couple of months, also came in for strong buying and rose by Rs200 per bag.
Pulses, on the other hand, showed mixed trend amid alternate bouts of buying and selling. Urad was an exception, which came in for renewed support and was up by Rs125 per bag.
On the other hand Gram dal, gram whole, beetle and moong varieties were marked down by Rs50 to Rs125, while all others were held unchanged at the previous levels.
Major industrial raw materials, on the other hand, did not show much change in the absence of strong demand and mostly held at the previous levels.
Cereals were quoted higher by Rs20 for maize, while Bajra suffered a fall of Rs25 on selling prompted by reports of steady arrivals from Sindh markets. But barley lacked normal support and was held unchanged.
Oilseeds again showed dull trading as prices of major seeds, including cottonseed, and rapeseed were again held unchanged at the previous levels as supplies matched the ready demand from the crushers.
Export varieties including castor seed and til showed active two-side price movements followed by reports of revival of export demand but prices finally were held unchanged at the previous levels.
Oilcakes came in for active selling for rapeseed cakes, which fell by Rs25, while cottonseed cakes were again firmly held at previous levels.—M.A.