Most of the commodities maintained sharp upturn as oil hit $122 a barrel. There were no concerted efforts to arrest rising trend, as government, according to traders, was engaged in more important subjects in its view. The sharp and sustained rise was marked in moong, masoor, wheat, rice (coarse and fine types) barley, bajra barring such item in low demand.
On Monday moong Punjab was quoted higher at Rs 3250 while better type was marked at Rs 3375. Masoor from Australia low type shed Rs 100 to Rs 7500 but the other type showed no change, while masoor from Canada inferior type shed same amount. Urad Burma quoted down Rs 75 to Rs 1625 and other type was quoted at Rs 1725. Wheat old and new rose by Rs 100 to Rs 1900 and better type quoted at Rs 1915. Sugar low type rose by Rs 100 to RS 2100 while better type rose by Rs 200 to Rs 2500.
Gur also rose by Rs 100 to Rs 1900 while the better type sustained previous level. Cotton cakes shed Rs 30 to Rs 670, better type fell by Rs 23 to Rs 675. Elsewhere raw rubber from Ceylon (per Lb) Merry Rub rose by Rs 12 to Rs 102, RSSV rose by RS 12 to Rs 104, Merry Rub (1000 L) quoted at Rs 97, and Pele Crape TPCs up by Rs 2 to Rs 98. Letex Semnan Tex quoted at Rs 640, Thai G.T quoted at Rs 640 and Merry tax (28 Kg) rose by Rs 15 to RS 640.
On Tuesday rice prices surged: Irri 6 Sindh low type rose by Rs 150 to RS 4750 while better type rose by Rs 100 to RS 4800. Basmati/ D98, Shahdad Kot rose by Rs 200 to Rs 7000 and other type was quoted at RS 7200. Basmati D Bagar Jee rose by Rs 200 to Rs 7000/7200. Basmati 386 up Rs 200 to Rs 7500 and better type rose by Rs 300 to Rs 7800. Barley Sindh and Mardan up by Rs 100 to RS 2050 and better type quoted at Rs 32100.
Wheat old and new up by Rs 50 to Rs 1950 while better type was quoted at Rs 1965. Yellow peas Canada was down Rs 100 to Rs 4100 and better type quoted at Rs 4300, yellow peas dal Canada retreated by Rs 100 to Rs 4500 while the other type was quoted at Rs 4700. Beetle Chana No I shed Rs 100 to RS 4500 while better type was quoted at Rs 4700, beetle chana 50x50 shed Rs 100 to Rs 4400 while the other type was quoted at Rs 4600.
Bajra low shed Rs 200 to Rs 2350 better type shed Rs 50 to Rs 2050. Cottonseed cakes gained Rs 50 to Rs 750 and better type quoted at Rs 800, cotton cakes old with bad rose by Rs 35 to Rs 800 while other type was quoted at Rs 800. With bag Sindh new down Rs 25 to Rs 925 and better type shed Rs 35 to Rs 960.
On Wednesday Jodia Bazar had changes in (per 40 Kg) white pepper noted higher by Rs 1000 to RS 16,200 black pepper from Ceylon rose by Rs 200 to Rs 10,200. Nutmeg rose by Rs 1000 to Rs 11400. Gum gogal rose by Rs 5500 to Rs 16,000. Long pepper rose by Rs 1000 to Rs 8400. Peanut rose by Rs 600 to Rs 3,200. Poppy seed rose by Rs 1800 to Rs 2800. Sago quoted at Rs 2050. Chilli dandi cut quoted at Rs 7200, cumminseed shed Rs 1300 to RS 8,400. Darchini rose by Rs 100 to Rs 3400, corrianderseed rose by Rs 1200 to Rs 5000. Dry fruit pistachio quoted at Rs 28,500.
On grain markets urad Burma low type shed Rs 400 to Rs 1650, while better type shed Rs 250 to Rs 1850, wheat fell by Rs 50 to Rs 1900 while better type was quoted at Rs 1950. The falling trend in this commodity was said to be due to the harvesting season and was expected to end in a few days time. Surprisingly rice reported modestly down trend. The other day consumers and traders both were throwing a critical look on fixation of minimum export price, which worked as booster of prices as hoarding and exports but had acted adversely. The reports by producers like Burma, India and elsewhere showed that they were ready to supply whatever quantity they had.
Meanwhile WTO rejected call to influence surplus countries in the short term according to the chief Pascal Lamy. However, Irri 6, hope of poorer section was quoted to have gone down and was quoted at Rs 4500. Sugar is not coming to grips and maintained rising trend with gain of Rs 50 to Rs 2200. The better type was put at previous level.
Upward trend was seen on the grain market on Thursday amid subdued business. On the rice sector, Irri-9 Sindh maintained the rising trend as it gained Rs 400 to 6200-6400. Basmati/D-98 Shahdadkot and Bagar Jee both rose by Rs 500 to Rs 7500-7700. Basmati No 386 in sympathy with also gained Rs 400 to Rs 8000-8200. Basmati broken low type rose by Rs 300 to Rs 4500 while the better type did not show any change at Rs 4800. On the cereals side, wheat old and new both qualities was up by Rs 100 to Rs 2000-2015, respectively. Other qualities maintained the same levels.
No business on grain market was seen on Friday. On Saturday moderate business was noted on grain market. Rates under gone change were of rapeseed cake, which up Rs 40 to Rs 710, better type by Rs 53 to Rs720. Sugar inferior type higher by Rs 50 to Rs 2250. Yellow peas Canada gained Rs200 to Rs4300-4500, yellow peas dal up by Rs 100 to Rs 4500-4800. Rice Irri Sindh gained Rs 200 at 4700. On the other hand wheat old and new slumped by Rs 50 to 1950-1965 and cottonseed oil cake with bag good type lost Rs 20 to be at Rs 940.