Upward trend was witnessed on the wholesale grain market on Saturday in process of trading, dealers said. Commenting on the present rising trend in the commodity prices, some analysts said that supply was not short because demand went up by a few foreign buyers, besides, the FAO index showed that the global food prices also rose in March for a third month in a row driven by gains in vegetable oils and grains.
Other grain traders were of the view that prices may maintain upward trend ahead of month of Ramazan, as a whole purchasing power of common man is falling day by day due to higher prices, despite this factor, rates are on upside, they said. On the cereals side, wheat new and old Bardan posted a gain of Rs 25 to Rs 2635-2665, other items maintained overnight levels in process of slow trading, they said.
On the grams side, grams 50x50 shed Rs 100 to Rs 7900-8200, yellow peas Canada gained Rs 150 to Rs 4350-4550, yellow peas dal Canada also picked up same amount to Rs 4850-4950, yellow peas Russia rose by Rs 50 to Rs 4150-4350 and yellow peas dal Russia also gained equal amount to Rs 4650-4850, they said. On the rice sector, Irri-6 Sindh shed Rs 50 to Rs 3450-3550, other items did not show any big change due to balanced demand and supply position, they said. On the seed counter castorseed Sindh picked up Rs 100 to Rs 1900 and cottonseed oilcake with bag Sindh low type showed no change at Rs 400 while the best type gained Rs 50 to Rs 750, they said.
Comments
Comments are closed for this article.