Firm gold and oil prices pushed the otherwise lacklustre commodity market, while prices of staple food items such as wheat and rice also remained firm during the past week. Analysts are keeping a close watch over weather, which remained moderate during the week under review. Rains and floods had been experienced over the past couple of years.
Bangladesh delayed tea auction until next month, while India benefited from its short supply. Algeria is looking for feed barley. The trend of rapeseed prices showed signs of easing in Nawabshah, where its price dipped by Rs75 to fluctuate between Rs2,300 and Rs2,325. Cakes though were priced Rs20 higher, settling between Rs880 and Rs890. Til followed suit as its rates were pushed higher between Rs3,500 and Rs4,000.
Low-grade cottonseed oil cakes in Sindh shed Rs50 to settle at Rs450. Other variety also lost Rs100, settling at Rs700. Other sectors remained unmoved. On the second day, the market remained closed and as a result fluctuations were not received.
On Wednesday, commodities showed mixed trend, with gram imported from Australia conceding Rs100 with rates fluctuating between Rs7,000 and Rs7,300, gram dal Australia lost Rs300, its price oscilating between Rs8,200 and Rs8,500, gram 50x50 lost Rs200 with prices hovering between Rs7,700 and Rs8,000, yellow peas from Canada gained Rs50, selling in a price ranging between Rs4,250 and Rs4,450, yellow peas and Canadian yellow peas Dal gained almost the same amount to sell between Rs4,750 and Rs4,950. Prices of yellow peas from Russia rose by Rs100, hovering between Rs4,100 and Rs4,300, while yellow peas Dal also rose by the same margin, swaying between Rs4,600 and Rs4,800. Meanwhile, prices of Irri-6 rice from Sindh rose by Rs25, selling between Rs3,475 and Rs3,575, low-grade til shed Rs35, while other variety gained Rs100, settling at Rs4,100. Prices of low-grade cottonseed oil-cakes (with bag) persisted at their overnight level of Rs450. The price of other grade gained to settle at Rs750.
On Thursday, international price trend showed a mixed trend, while rates of rice and oilseeds showed a firm trend. Kenya saw food supply vastly sufficient with some want in maize pending imports.
Locally, growers in areas where wheat has already been are worried because of unwanted rains. They are also worried about a lack of adequate storage facilities.
Fluctuations in prices far and few.
Low-grade cottonseed oil-cakes (with bag) from Sindh dropped by Rs50 to settle at Rs400. Prices of the other variety lost Rs25, settling at Rs725.
A drop was witnessed in prices of some retail items from Jodia Bazar, especially black pepper from Singapore, which conceded Rs300 to settle at Rs25,700, black pepper from Brazil dropped by Rs500 to settle at Rs26,500. Prices of mace also went down by Rs1,000 to settle at Rs90,000 and big cardamom shed Rs2,000 to settle at Rs58,000 on
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