The budget 2008-09 practically held commodities wholesale markets trading hostage. The wholesales for obvious reasons and consumers hoping for some magic to ease rising weight on their pockets during the week ended on June 7, 2008, changes, if any depicted two-way trend.
However, with disappointment mounting on food and oil fronts various fare including to tackle 100 million hungry mouths. The donors indeed have their own plans while lack of will to minimise environmental impact on crop growth has engaged attention of relevant people. The big mind is also looking into possibilities of changes in commodities regulations: wait readers until changes are pronounced.
On Monday, the day budget session was announced. Commodities wholesale market, according to market sources held up sales and consumers had chance visit but they were disappointed. Anyway some changes elsewhere were noted in chemicals (per Kg) caustic soda flakes Saudi quoted at Rs 57, sodium sulphate rose by Rs 2 to Rs 16, NJ Taiwan gained Rs 5 to Rs 159, formic acid Pak rose by Rs 9 to Rs 89, and formic acid from Germany rose by Rs 6 to Rs 96, Petroleum jelly, PVA from Japan was quoted at Rs 253 and caustic soda rose by Re 1 to Rs 56, Rangolite "C" per pound from China rose by Rs 5 to Rs 65, same item from Germany gained Re 1 to Rs 81, Hydorsulphite from China 88 pc sealed up by Rs 26 to Rs 121, same item from Germany rose by Rs 35 to Rs 143, Acetic acid Taiwan rose by Rs 4.80 to Rs 90.20 and from Korea rose by Re 1 to Rs 90, hydrogen peroxide, 35pc Taiwan rose by Rs 15 to Rs 57 and Korea was quoted at Rs 58.
On Tuesday some rates from commodity wholesale market were available where some essentials lost drastically, though other had walked along the ruling higher trend. The loss however was not properly explained by the traders, whether international moves or steps taken locally caused the slide. Rice surprisingly turned favourable for the buyers such as Irri-6 Sindh inferior type shed Rs 300 to Rs 5800 while the other type shed Rs 200 to Rs 6000, Basmati. D/98 Shahdad Kot, Basmati Bagar Jee No 386 conceded Rs 200 to Rs 7300 and other type was quoted at Rs 7400, sugar winning streak continued with gain of Rs 30 to Rs 2650 and the other type was quoted at Rs 2820. Gur better type rose by Rs 100 to Rs 2500, while the other quality was unchanged at Rs 1700 and Khandsari rose by Rs 100 to Rs 2500.
On Wednesday market waited the details of five-day extended budget until both the buyers and sellers generally batter buying/sales process. In the meantime Commodity futures trading Commission broadly hinted trading should be transparent to avoid distortions. Whether locally anybody is aware about what is happening elsewhere. The rising trend agri futures market could be halted if hide and seek with commodity is availed. Anyway locally traders are openly saying high staple food process are during the vulnerable section away from markets.
However, elsewhere milk powder changed hand where prices showed mixed trend. Euro gold (bag of 25 Kgs) scaled lower by Rs 50 to Rs 7250, Bale vale rose by Rs 100 to Rs 2100, and Lucky Boy moved lower by Rs 50 to Rs 2200.
On Thursday on the seed side rape seed from Mirpurlane low type lost Rs 25 to Rs 1825 and better type was lower by Rs 50 to Rs 1850. Til inferior type was sharply lower by Rs 300 to Rs 4300 while the good type maintained its overnight level at 4700. Sugar low type lost Rs 30 to Rs 2620 and good type was down by Rs 40 to Rs 2700. Gur better type gained Rs 100 to Rs 2600 while the inferior type did not move any side at Rs 1700. Wheat old and new both lost Rs 50 to Rs 2150 and 2165 on improved supply positioned.
The trading on plastic moulding compounds closed mixed on Jodia Bazaar here on Thursday.
THE CHANGES WERE: PLASTIC MOULDING COMPOUNDS (per lb): HDPE (FILM): Saudia 952 finished down by Rs 1.25 to Rs 70.75, Mobil went lower by Rs 1.25 to Rs 70.75 and TR144 moved downward by Rs 1 to Rs 70.75.HDPE (INJECTION): Iran closed down by 50 paisa at Rs 72. DPE (BLOW): Kuwait edged lower by Re 1 to Rs 71 and Marlex moved downward by Re 1 to Rs 71. LDPE: 374 went lower by Re 1 to Rs 80.LLDPE: W118 closed up by Rs 2 to Rs 78 and 7087 finished lower by Re 1 to Rs 75.HIGH IMPACT (per bag): Pakistani was quoted at Rs 4,174 and BASF was quoted at Rs 4,200.
On Friday as usual no transaction was reported on seeds and grain market.
ON JODIA BAZAAR ON FRIDAY THE VARIATIONS WERE: KIRANA ITEMS (PER 40 KG): White pepper moved upward by Rs 600 to Rs 16,800, big cardamom finished lower by Rs 200 to Rs 12,200, star aniseed edged higher by Rs 200 to Rs 6,000 and darchini closed up by Rs 200 to Rs 3,800.
Soft trend was seen on the grain market on Saturday. Cottonseed oilcake with bag low type gained Rs 25 to Rs 775 while the better type did not move any side at Rs 800. Cottonseed oilcake with bag Punjab new low type shed Rs 25 to Rs 800 and good type also fell by Rs 50 to Rs 825, cottonseed oilcake with bag Sindh old was at Rs 775-825 and new type at Rs 875-900. A solo deal was seen on the cereals side, Masoor Canada inferior type lost Rs 200 to Rs 8600 while the better type maintained its overnight level at Rs 9000.
ON JODIA BAZAAR ON SATURDAY CHANGES WERE: PINEAPPLE: Thaipine (per tin) closed higher by Rs 20 to Rs 240, Thaipine 565gm was quoted at Rs 895, Polac finished upward by Rs 100 to Rs 1,025, Euro Broken was quoted at Rs 895 and Malapine edged higher by Rs 213 to Rs 1,488.
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