Commodity markets might have never welcomed the month of holy Ramazan seemingly as apprehensively as they stare these days. Super Sela Karnal, grams and gram dal have started looking up, as agriculturists world over taking note of climatic changes.
The people forming very much part of the government have presented "supplementary" budget for obvious reason to get hard up out if possible. Exporters of major products have come out with horrible expression that payment of ST, duty refunds should be expedited, or they won't be able to honour "orders" in hand. Similar voices are also being raised to keep oil and gas supplies regular. Last months have seen exports losing ground.
However, super Sela Karnal rose afresh by Rs 500 to Rs 9000 and Rs 9500, grams from Australia No. I rose by Rs 100 to Rs 7600 and Rs 8000. Gram dal Australia No 1 rose by Rs 100 to Rs 9400 and Rs 9800, gram 50x50 managed to turn higher by Rs 200 to Rs 8200 and Rs 8600, yellow peas from Canada conceded the same amount to Rs 4400 and Rs 4600, yellow peas dal Canada shed Rs 100 to Rs 4900 and Rs 5100, yellow peas Ukraine lost Rs 150 to Rs 4150 and Rs 4350, yellow peas dal Ukraine shed same amount to Rs 4650 and Rs 4350, yellow peas Russia however gained Rs 500 to Rs 4250 and Rs 4450 and yellow peas dal from Russia lost same amount to Rs 4750 and Rs 4950, wheat old bardan drifted lower by Rs 15 to Rs 2605 and Rs 2645, guwar shed Rs 300 to Rs 28000 to Rs 29000, cottonseed cakes with bag Sindh low type rose by Rs 100 to Rs 600, while the other type was put at Rs 800.
Pakistan budget makers claimed the world is head on plunged into unravelling debt ridden and recession hit worse states like Spain, Italy and Greece. America not in normal shape is faced with presidential election in November.
In the meantime tea prices in Bangladesh have shown firm trend while in Kenya relief is seen in value. The corn and edible oil prices in Ukraine, Malaysia and Canada show steady trend.
In Karachi on Tuesday Irri-6 Sindh low type rose by Rs 25 to Rs 3375 while the other type was higher by Rs 50 to Rs 3500, cottonseed oilcake with bag in Sindh rose by Rs 100 to Rs 700 and Rs 900, wheat old bardan and new both types shed Rs 15 to Rs 2590 and Rs 2630, guwar low type was lower by Rs 125 to Rs 2500, while the better type was lower by Rs 200 to Rs 2600.
Oil, metals are keeping low while Vietnam has surplus rice and Russia can supply grain to countries apprehending shortfall.
Let us look deeper into trading in Karachi wholesales grain market: moong from Australia gave away Rs 200 to Rs 7500, masoor Canada yielded Rs 100 to Rs 5500, masoor dal rose by Rs 300 to Rs 6500, gram Australia No I lost Rs 100 to Rs 7500 and Rs 7900, gram Australia dal No I shed same amount to Rs 9300 and Rs 9700. Cottonseed cakes with bag Sindh lost Rs 200 to Rs 500 and Rs 700.
On Jodia Bazar Kirana items (per 40kg) big cardamom gave away Rs 3000 to Rs 52,000, cloves shed Rs 1000 to Rs 45000, Kalongee rose by Rs 50 to Rs 7250 and cuminseed rose by Rs 100 to Rs 10,400 on Thursday market movement was restricted on two counts, primarily because 2012-13 budget was ahead and global market trend looked activity extraordinary. The WTO warned G20 and Asians to rid from protectionism to avoid pushing economy into recession which continued hitting hard. The recent US job data signalled loss of momentum in recovery. Greece, France and Italy continue to ail EU.
Meanwhile Oxam has expressed regret world ammunition trade has widened compared with world trade. Taking note of goings in Karachi, market, wheat old bardan and new bardan rose by Rs 10 to Rs 2600 and Rs 2640. Irri-6 Sindh low type appreciated by Rs 50 to Rs 3425 while better type rose by Rs 25 to Rs 3525
On Jodia Bazar Irish skimmed powder (per 25kg bag) quoted at Rs 8500 Golden burger rose by Rs 400 to Rs 8900 while American rose by Rs 700 to Rs 7900. Vegetable Euro Gold ended down by Rs 700 to Rs 9100 and Bailie Gold shed Rs 200 to Rs 9200
On Friday no transaction was reported for almost all the participants were busy in preparations for Juma prayers, as usual.
On Saturday the wholesale grain market welcomed the budget 2012-13 with mixed feelings. Commenting on the measures in the new budget to bring stability in the commodity prices, they said the government's decision to standardise sales tax on imports at 16 percent from 19.5 to 22 percent on various items will make a mixed impact on commodity prices. They said the falling rupee versus dollar likely to offset the sales tax relief
On the cereal side grams Australia No.1 lost Rs 100 to Rs 7600-8000, grams dal Australia No.1 followed same trend, losing same amount to Rs 9400-9800, grams 50x50 fell sharply by Rs 200 to Rs 8400-8800, yellow peas Canada was higher by Rs 200 to Rs 4500-4700, yellow peas dal Canada gained same amount to Rs 5000-5200, yellow peas Ukraine picked up same figure to Rs 4250-4450, yellow peas dal Ukraine rose by the same amount to Rs 4750-4950, yellow peas Russia posted the same figure at Rs 4350-4550 and yellow peas dal Russia low type gained same amount to Rs 4850 and the fine type was higher by Rs 150 to Rs 5100. Guwar Sindh and Punjab drifted lower by Rs 200 to Rs 26000-27000, other items maintained overnight levels. Cottonseed oilcake with bag Sindh low type held the overnight level at Rs 600 while the good type was higher by Rs 100 to Rs 700.