Commodities prices fluctuate in line with global trend,determined by demand/supply factor

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From International Desk - Special Reports

Abnormal behaviour in price fluctuation was not frequent on the wholesale commodity markets though changes were marked under impact of buyers interest.

A comparative look on the global commodities mostly matched with local trend slightly differing in imported palm oil from Malaysia which sustained previous perk.

Locally some element of surprise gripped importers and users of plastic mouldings which resisted fluctuation for a couple of weeks to steal reigning weakness and show strength.

Taking date-wise fluctuation in seed and grain, opening session witnessed lack of buying interest in grams from Austalia No 1 resultantly shedding Rs 100 to Rs 7300 and Rs 7600 while dal No I dropped same amount to Rs 8700 and Rs 9000, gram 50x50 shed Rs 100 to Rs 8400 and Rs 8700, yellow peas Canada conceded Rs 150 to Rs 4550 and Rs 4850, yellow peas dal Canada low type scaled down Rs 100 to Rs 5100 while the better type gave away Rs 150 to Rs 5400, yellow peas Ukraine low type rose by Rs 200 to Rs 4500 , while the better type gained Rs 100 to Rs 4600, yellow peas dal Ukraine low type was higher by Rs 200 to Rs 5000, while better type rose by Rs 100 to Rs 5300.

Guwar Sindh and Punjab went down by Rs 100 to Rs 24000 and Rs 25000 cottonseed oilcake with bag in Sindh low type lost Rs 50 to Rs 450 while better type shed Rs 150 to Rs 600.On Jodia Bazar plastic mouldings on changed scenario looked higher (per lb) HDPE film grade Saudia 952 ended higher by Rs 3 to Rs 80, Mobil rose by Rs 2.75 to Rs 80 and TR 144 rose by Rs 4.50 to Rs 80.

HDPE injection grade Sabic 200056 rose by Rs 3 to Rs 84, Mobil 06 rose by Rs 4 to Rs 84, and Iran was quoted at Rs 72.

HDPE blow Kuwait rose by Rs 13 to Rs 95 and Iran was quoted at a Rs 85, LDPE 374 sealed higher by Rs 3.75 to Rs 84, MG 20 was quoted at Rs 93 and MG70 gained Re 1 to Rs 96, LLDPE W118 rose by Rs 6 to Rs 80 and Sabic 500025 rose by Rs 5 to Rs 95, polypropylene film rose by Rs 7 to Rs 84, Saudi Arabia rose by Rs 4 to Rs 84 and India rose by Rs 3.75, polypropylene tape grade India rose by Rs 2.50 to Rs 79.

Kuwait rose by Rs 2.50 to Rs 79 and Saudia was quoted at Rs 2.50 polypropylene injection grade Saudia rose by Rs 4.50 to Rs 83, India rose by Rs 4 to Rs 85, and Kuwait quoted at Rs 83, polistyrene Pakistani was quoted at Rs 5206, Copoly block quoted at Rs 85 and Randon rose by Rs 8 to Rs 93, high impact (per bag) Pakistan was quoted at Rs 5785 and ABS polylac 707 rose by Rs 100 to Rs 6900 and Iran was quoted at Rs 6500, some commodities like tea, sugar and wheat had stabilising effect but excess harvest in countries had to be exported trading to instant pull of prices.

Tea in Bangladesh lost normal demand owing to poor quality.On Tuesday export demand pushed rice prices higher.

Irri-9 Sindh went up by Rs 800 to Rs 5000-5100, Irri-6 Sindh adopted the same path as low type gained Rs 50 to Rs 3450 and best quality was up by Rs 25 to Rs 3500, Basmati No 386 new rose by Rs 400 to Rs 5400-5600.

Super Basmati No 386 Punjab new low type was higher by Rs 500 to Rs 7500 and best type managed to pick up Rs 600 to Rs 7800, Super Sela Karnal low type gained Rs 500 to Rs 7500 and good type rose by Rs 300 to Rs 7800 and Super Sela Kainat low type picked up by Rs 500 to Rs 9500 and good quality was higher by Rs 700 to Rs 10,000.

Cottonseed oilcake with bag Sindh good type appreciated by Rs 100 to Rs 700 while the inferior type was unchanged at Rs 450.Rates were unchanged on the cereal and grams sectors.On Wednesday seed and grain market showed slow activity.

Buyers took a respite hoping for favourable turn in prices.

Makai low type rose by Rs 175 to Rs 2750 while the other quality scaled up by Rs 150 to Rs 2800, juwar was quoted higher at Rs 2600 and Rs 2800.

Cottonseed oilcake with bag in Sindh was put at Rs 450 while the good type shed Rs 100 to Rs 600, rapeseed Dadu gained Rs 100 to Rs 2000 and Rs 2100, rapeseed cake rose by Rs 30 to Rs 840 and Rs 850.

Average price of BD tea lost 142 taka ($1.25) a kg from 142.40 taka a kg.

One million kg of tea was offered for sale at auction centre Chittagong.

Nearly 37pc was left unsold.On Thursday some items registered rise.

Malaysian palm oil was racing along with Canadian canola which rose around six month high completing the tally.

Locally speaking earlier surge marked in grain and moong and sorts suggested entering depressing quarters for buyers staying away to lay hands on prices showing retreat.

Gram from Australia No I was down by Rs 300 to Rs 7000 and Rs 7300, gram dal No I Australia yielded Rs 300 to Rs 8400 and Rs 8700, gram 50x50 lost Rs 400 to Rs 8000 to Rs 8300, yellow peas Canada low kind yielded Rs 50 to Rs 4500, while other kind shed Rs 150 to Rs 4700, yellow peas Dal Canada shed Rs 50 to Rs 5050 and Rs 5350, yellow peas Ukraine low type shed Rs 100 to Rs 4400 while better type stayed put at Rs 4600, yellow peas dal Ukraine low kind lost Rs 100 to Rs 4900, while better type shed Rs 200 to Rs 5100.

Moong Punjab dropped sharply by Rs 500 to Rs 7508, cottonseed oilcake with bag in Sindh low type stayed put Rs 450 while better type rose by Rs 100 to Rs 700.On Friday as usual no transaction was reported as almost all the partipants were busy in preparations for Juma prayers.On Jodia Bazar raw rubber edged up.

The changes were : CEYLON RAW RUBBER (Per lb): RSSV ended higher by Rs 5 to Rs 170 and Pale Crape TPC3 moved upward by Rs 10 to Rs 210.

LATEX: Merrytax (28 kg) was quoted at Rs 1040 and Thai (GT) was also quoted at Rs 1040.On Saturday all the business was at 'stand still' in protest against extortion.

All the markets and shops in localities remained closed, a rare occurrence.

Courtesy: Business Recorder

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