Law and order situation hurts business activity at Karachi commodities market

The outgoing week ended by and large with relief as commodities prices ruled low despite short spell of pressure due to Easter holiday. In Pakistan going was an exception caused by violence and law and order situation. However Jodia Bazar was quiet influenced by not too good peace. Retailers observed reservation and waited until next day to buy needed stuffs.
On seed and grain markets on Monday wheat and Irri-6 prices resounded by proved weak wheat old (bardan) lost Rs 250 to Rs 2725, Wheat new bardan old stock also shed the same amount to Rs 2775, whet new bardan new stock lost Rs 10 to Rs 2610, On the rice side Irri-6 Sindh low type down Rs 50 to Rs 3600 while good type shed Rs 25 to Rs 3600. The grain markets in other parts of the world displays similar trend. The edible oil kept easy posture.
On Tuesday maize rose by Rs 25 to Rs 2675 and Rs 2700, wheat new bardan (new stocks) low type up Rs 5 to Rs 2615 while better quality while the other rose by Rs 10 to Rs 2680. Gram Australia No I rose by Rs 100 to Rs 7100-7400, gram dal Australia gained Rs 100 to Rs 8500 and Rs 8800, grams 50x50 quoted higher at Rs 8000 and Rs 8300, yellow peas Canada shed Rs 200 to Rs 4200 and Rs 4400, yellow peas Dal Canada shed same amount to Rs 4700-4900 yellow peas Ukraine rose by Rs 200 to Rs 4700-4300 and yellow peas dal Ukraine lost Rs 200 to Rs 4100-4300, yellow peas dal Ukraine fell by Rs 200 to Rs 4600 and Rs 4800.
On Wednesday lean business was reported locally primarily impacted by lack of interest of retailers. Some deals were reported in moong Punjab said to be sharply lower owing to steady supplies - it however lost Rs 500 to Rs 7500-7750, barley Sindh and Punjab lost Rs 350 to Rs 3500, cottonseed cakes with bag in Sindh fine quality scaled higher by Rs 100 to Rs 800 while the other type was put at last Rs 400 level. The corn, soya, Canadian Canola and even wheat depicted softness. Canadian Canola slipped on profit taking.
However, looking deep around the price trend some grain such as corn premium was stated to be steady. Experts reported three percent of US corn had been planted below an average.
On Thursday according to newspaper reports prices of 19 commodities soared in February, but as a whole relief was felt though rising petroleum prices hit vulnerable commodities. Grams Australia No I rose by Rs 100 to Rs 7100-7400, gram Australia No I dal rose by Rs 100 to Rs 8500-8800, gram 50x50 rose by Rs 200 to Rs 8000-8300 yellow peas Canada rose by Rs 200 to Rs 4200-4400, yellow peas dal Canada gained same amount to Rs 4700-4900, rapeseed Nawabshah low type gained Rs 125 to Rs 2375 while fine type was up Rs 100 to Rs 2400, rapeseed Mirpur was up by Rs 150 to Rs 2400, better type was up Rs 150 to Rs 2400, while better type was up Rs 120 to Rs 2425, rapeseed cakes gained Rs 20 to Rs 860 and Rs 870, til inferior gained Rs 150 to Rs 3400 while better type gained Rs 50 to Rs 3700, castorseed Lasbela was up by Rs 50 to Rs 2000, castorseed Sindh was quoted up at Rs 1800, cottonseed cakes with bag in Sindh low type shed Rs 200 to Rs 400 while good type lost Rs 50 to Rs 700.
On cereal counter Makai rose by Rs 50 to Rs 2675 and Rs 2700, barley Sindh and Mardan shed Rs 350 to Rs 3500, wheat old new bardan shed Rs 25 to Rs 2725 and Rs 2775, wheat new, new bardan rose by Rs 10 to Rs 2610, wheat old bardan was unchanged at Rs 2650, Guwar Sindh and Punjab rose Rs 100 to Rs 31000 and Rs 32000, Khandsari low type was put at Rs 5500, while the other lost Rs 500 to Rs 6000, Irri-6 Sindh rice low type shed Rs 150 to Rs 3500, while the other was down Rs 125 to Rs 3600 and banaspati No 386 rose by Rs 300 to Rs 5700 and Rs 5800. On Jodia Bazar (per lb) petroleum jelly PVA Japan lost Rs 3 to Rs 265, and Sitara Caustic Soda flakes shed Rs 4 to Rs 64, Rangolite 'C' per pound China rose by Rs 2 to Rs 92, Germany same item rose by Rs 4 to Rs 103, acetic acid Taiwan quoted at Rs 92.40 and Korea was up by Re 1 to Rs 91, hydrogen peroxide Descon 50pc rose by Rs 2 to Rs 44 and Sitara gained Rs 2 to Rs 44. On Friday not a single change was seen on the wholesale grain and seed market. Because nearly all the participants were busy in preparations for Juma prayers.
On Saturday wheat new and old Bardan posted a gain of Rs 25 to Rs 2635-2665, other items maintained overnight levels in process of slow trading, grams 50x50 shed Rs 100 to Rs 7900-8200, yellow peas Canada gained Rs 150 to Rs 4350-4550, yellow peas dal Canada also picked up same amount to Rs 4850-4950, yellow peas Russia rose by Rs 50 to Rs 4150-4350 and yellow peas dal Russia also gained equal amount to Rs 4650-4850. Irri-6 Sindh shed Rs 50 to Rs 3450-3550. Castorseed Sindh picked up Rs 100 to Rs 1900 and cottonseed oilcake with bag Sindh low type showed no change at Rs 400 while the best type gained Rs 50 to Rs 750.