Commodities' prices move within normal range

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From International Desk - Special Reports

There was no exceptional development on the commodities markets, domestic or global.

Therefore, prices fluctuated within usual normal range, ,mainly determined by demand/supply factor, throughout the week ended on march 10,2012.

The opening day was a closed holiday on account of Giarahwin Sharif, hence rates were not received from seed and grain wholesale markets.

The next day, as in the practice, changes were few and fluctuations too were few and far between.

However, among pulses masoor dal Canada rose by Rs 200 to Rs 6800, urad Burma low type shed Rs 100 to Rs 2400 while better one shed Rs 200 to Rs 2800, wheat old gave in Rs 5 to Rs 2715, new wheat bardana rose by Rs 15 to Rs 2765, gur low type gained Rs 100 to Rs 4500, while the other type retained previous level at Rs 4550, bajra low type gained Rs 300 to Rs 2600, better type rose by Rs 250 to Rs 3600, cottonseed with bag Sindh low type appreciated by Rs 50 to Rs 550, the other type lost same amount to Rs 750.

The trading elsewhere in the world showed similar movement as rise and fall were moderate.

The rate from Jodia Bazar was not received.

On Wednesday, globally speaking wheat, corn slided while in Pakistan grams Australia dal No 1 picked up Rs 100 to Rs 8800-9100, grams 50x50 went up sharply on good demand, gaining Rs 400 to Rs 8500-8800, yellow peas Canada rose by Rs 50 to Rs 4400-4600, yellow peas Ukraine inched up by Rs 50 to Rs 4300-4500, yellow peas Ukraine dal followed same pattern, gaining Rs 150 to Rs 4900-5100, however, Bajra low type was down by Rs 200 to Rs 2400 while best quality was unchanged at Rs 3600, makai low type rose by Rs 75 to Rs 2575, while the other variety gained Rs 100 to Rs 2650, juwar better type gained Rs 100 to Rs 2650, low quality was quoted higher at Rs 2500, guwar Sindh and Punjab both turned higher by Rs 100 to Rs 2500-2600, rapeseed Nawabshah was put at Rs 2250 while the other type gained Rs 25 to Rs 2300, rapeseed Mirpurlane low type gained Rs 75 to Rs 2225, while the other type rose by Rs 50 to Rs 2250, rapeseed cakes inched higher by Rs 20 to Rs 810-820, til appreciated by Rs 50 to Rs 3250 and Rs 3650, cottonseed oilcakes Sindh with bag low type shed Rs 50 to Rs 500 while no change was marked in other type and seen at Rs 750, Irri 6 Sindh rose by Rs 25 to Rs 3325 and Rs 3400, Irri white broken gained Rs 100 to Rs 2600 and Rs 2700.

On Jodia Bazar dry fruits in giving up the firmer posture with the gradual inter-mixing of winter with spring, as a consequence prices are coming under impact of receding demand, most of the fruits have nearly lost demand and prices have thinned as a result.

Dry fruits (per 40 kg) almond girdi shed Rs 200 to Rs 4800, almond Irani quoted was at Rs 32000, almond from USA rose by Rs 1000 to Rs 21,000, Kaghzi I rose by Rs 3000 to Rs 15,000,raisen Sindhu Khani I rose by Rs 4000 to Rs 24,000, raisin II gave in Rs 3000 to Rs 9000, chilghoza roasted was quoted at Rs 88,000 and dates gained Rs 1400 to Rs 5600.

On Thursday, depressed trading activity was marked on the wholesale grain markets for dual reasons - primarily retailers had stocked in advance for their short-term needs.

Besides, continued buying encouraged traders to quote above fixed rate by relevant authorities in this case city government.

A bumper harvest too is overlooked on oil crisis owing to supply constraint from Iran and ME sources.

Palm oil fluctuating either ways is impacted by halt in supply by carriage contractors dispute.

However, wheat old bardana rose by Rs 35 to Rs 2745, while wheat new bardana was quoted higher at Rs 2775, castorseed Lasbela was down by Rs 150 to Rs 1950, and cottonseed oilcakes Sindh with bag rose by Rs 60 to Rs 560 while the other variety was quoted at Rs 750.On Friday rates remained unchanged as almost all the participants were busy in preparations for Juma prayers.On Saturday prices moved both ways in process of slow trading.Moong Punjab was quoted higher at Rs 8000, urad Burma lost Rs 200 to Rs 2200-2600, wheat old bardan and wheat new bardan shed Rs 25 to Rs 2775-2800.

Bajra low type gained to be at Rs 2600 while good type retained overnight level at Rs 3600.

Only one change was witnessed on the seeds counter, where cottonseed oilcake with bag Sindh low quality was lower by Rs 10 to Rs 550 and the best quality was down by Rs 50 to Rs 700.

On the rice sector, Irri-6 Sindh rose by Rs 75 to Rs 3400-3475, other items maintained last levels in process of slow trading.

Courtesy: Business Recorder

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