Sharp fall in grams prices observed on grain market

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KARACHI: After announcement of budget 2012-13, traders and hoarders threw on the market their huge stock of grams, which caused fall in the prices, dealers said on the wholesale grain market on Tuesday.

Explaining the decline in the grams prices some commodity experts said that it was expected because traders and hoarders had stopped selling in expectations of increased profit after budget ahead of Ramazan. But now the situation is totally, different because of decrease in purchasing power of commonman, they added.

The month of Ramazan is not far away, at the end of next month (July), Ramazan will start, so it will come up very soon, wheather prices go up or drift lower in days to come, they said.

On the grams side, grams Australia No.1 lost Rs 100 to Rs 7500-7900, grams Australia dal No.1 was down sharply by Rs 400 to Rs 9000-9400, grams 50x50 slipped by Rs 100 to Rs 8300-8700, yellow peas Canada dropped by Rs 50 to Rs 4450-4650, yellow peas dal Canada held the overnight levels at Rs 5000-5200, yellow peas Ukraine shed Rs 50 to Rs 4200-4450, yellow peas dal Ukraine lost the same amount to Rs 4700-4900, yellow peas Russia also shed the same amount to Rs 4300-4500 and yellow peas dal Russia low type fell by Rs 50 to Rs 4800 and the best type lost Rs 100 to Rs 5000 in the absence of buyers, they said.

On the rice counter Irri-6 Sindh declined by Rs 25 to Rs 3450-3550, other types retained overnight levels, they said.

On the cereal sector makai low type gained Rs 25 to Rs 2250 and best type was unchanged at Rs 2375 due to balanced demand and supply position, juwar, after maintaining firm trend, fell on easy supply position and shed Rs 300 to Rs 2200-2300, other items retained overnight levels in process of slow trading, they said.

Only one change was seen on the seed sid, where cakes gained Rs 20 to Rs 950-960 during the day, they said.