Positive developments propel retailers to make new deals on grain market

Aspects and expectations for positive developments on both economic and political fronts propelled retailers to finalise deals on the wholesale grain market on Saturday, dealers said. Other commodity and grain experts attributed an increase in activity to the forward buying ahead of federal Budget 2013-14, many retailers were trying to hoard commodity items and many other products ahead of Holy month of Ramazan, they added.
The people, particularly from the middle class are expecting that prices may not rise sharply because they hope, the new government will take interest in keeping rates of all essentials at a certain levels in days to come, they said. On the grams side, grams Australia No 1 picked up Rs 300 to Rs 5500-5800, gram Dall Australia picked up the same amount to Rs 6500-6800, grams Australia No 2 gained equal figure at Rs 5300-5600, Grams Dall Australia No 2 rose the same amount to Rs 6300-6600, grams 50x50 low type lost Rs 600 to Rs 4800 while the best type did not show any change at Rs 5100, gams 50x50 Dall low type was up by Rs 150 to Rs 5400 and the good type rose by Rs 100 to Rs 5600.
Yellow peas Canada was higher by Rs 100 to Rs 5000-5200, yellow peas Dall Canada low type appreciated by Rs 100 to Rs 5500 and the superior variety gained Rs 100 to Rs 5700, yellow peas Russia low type was up by Rs 150 to Rs 5000 while the best type was up by Rs 100 to Rs 5200, they said.
On the cereals side, Guwar Sindh was higher by Rs 200 to Rs 12000-13000 on strong demand, Guwar Punjab low type was up by Rs 100 to Rs 9000 while the best type was unchanged at Rs 11000, they said. On the rice sector, Irri-6 Sindh low type was up by Rs 25 to Rs 3575 and the best type was higher by Rs 50 to Rs 3700, other types were unchanged during balanced demand and supply position, they added. On the seeds side, cottonseeds oilcake with bag Sindh (old) held the overnight levels at Rs 500-700, cottonseeds oilcake with bag Sindh (new) low type gained Rs 150 to Rs 1250 and the best variety was higher by Rs 100 to Rs 1350, they said.