Prevailing uncertainties: commodities' prices remain wayward on local markets

On Tuesday commodities maintained firm trend with exception of cotton where speculators scrambled to exit spot July. In local commodity market main buyers stayed away owing to steady supply position. However, on the seed counter cottonseed oilcakes with bag low type shed Rs 100 to Rs 400 while better type lost Rs 50 to Rs 750. All other sectors were not covered by buyers.
The Jodia Bazar stayed quiet for the second day and no fluctuation was reported on Wednesday the world leaders were preparing to back a blue print for rooting poverty and vow to free trade whereas in this country harassed businessmen are in a fix whether or not to pay taxes in the absence of gas, power and danger to life and property.
As far as commodity markets were concerned every item was down be they gold, oil or wheat, corn and grain in the world. Locally too, where movement was creeping for some days, slight change was marked though downtrend was evident. In grain markets, gram from Australia No. I turned lower by Rs 100 to Rs 7500 and Rs 7900. Gram dal Australia No. I shed Rs 1200 to Rs 8900 and Rs 9300, gram 50x50 lost Rs 100 to RS 8200 and Rs 8600, yellow peas Canada conceded Rs 150 to Rs 4300 and Rs 450, yellow peas dal Canada shed Rs 100 to Rs 4900 and Rs 5100, yellow peas Ukraine gave away Rs 100 to RS 4050 and Rs 4250, yellow peas dal from Ukraine shed Rs 100 to RS 4600 and Rs 4800, yellow peas Russia conceded Rs 150 to Rs 4150 and Rs 4350, yellow peas Russia dal was quoted down at Rs 4700 and Rs 4900. Broken rice Irri white low type retained its overnight level at Rs 2600 while the better type rose by Rs 50 to RS 2700, cottonseed oilcake with bag Sindh low type was put at Rs 400 while the better quality rose by Rs 50 to Rs 700.
On Jodia Bazar Kirana items (40 kg) big cardamom gained Rs 8000 to Rs 55,000, cloves lost Rs 2000 to Rs 43,000, Kalongee conceded Rs 900 to Rs 6300, dry ginger from China gained Rs 100 to Rs 12900, Sago rose by Rs 45 to Rs 3800 and Darchini rose by Rs 400 to Rs 7000.
On Thursday a clean sweep through newspaper reports resulted in heggared description. Powers who contributed to economic strength around world are mending their own strength. However, the grain and Kirana markets depicted hollow look. Traders just begged excuse for failing to deliver any rise or fall in prices.
On Friday as usual no transaction was reported hence no change in prices. Almost all the prticipants on grain and seed market remained busy in preparations for the Juma prayers.
However, on Jodia Bazar chemical items ended mixed. The variations were: HEMICAL ITEMS (Per kg): N J Taiwan edged lower by Rs 2 to Rs 230, DDBSA moved downward by Rs 5 to Rs 170 and Sitara caustic soda flakes moved upward by Rs 3 to Rs 67.
RANGOLITE 'C' (Per pound): China was quoted at Rs 91, Germany went up by Rs 2 to Rs 102 and India was quoted at Rs 92. HYDROSULPHITE: China 88 percent closed lower by Rs 6 to Rs 154 and India finished down by Re 1 to Rs 75. HYDROGEN PEROXIDE: Descon 50 percent went higher by Re 1 to Rs 45, Korea 5 percent moved up by Re 1 to Rs 48 and Thailand edged upward by Rs 2 to Rs 47.
On Saturday lean business was witnessed as many buyers were sidelined due to lack of interest. On the cereal side makai prices drifted lower after maintaining a stable trend for several weeks which was attributed the fall to steady arrivals, so the low type lost Rs 165 to Rs 2125 and the good type shed Rs 50 to Rs 2150, juwar, however, moved up as though low quality shed Rs 100 to Rs 2100 but the superior type was higher by Rs 150 Rs 2200, other items held the previous levels. On the seed counter tight supply pushed the rates of cottonseed oilcake Sindh higher, as low type gained Rs 100 to Rs 500 and the good type picked up Rs 50 to Rs 650, in the meantime, other items fluctuated but closed at the overnight levels. On the rice sector Irri-6 Sindh low type appreciated by Rs 100 to Rs 3450-3550.