Variation in POL prices affects commodities business negatively

Decision, later taken back, to raise POL prices had negative impact on imported grains. The world commodity trend was generally favourable. The opening session in the wholesale commodity markets encountered with government's repressive decision to raise POL prices, which particularly hit rice, mostly used by low income people.
On the rice sector, Irri 9 Sindh rose sharply by Rs400 to Rs4500 and Rs4600. The traders attributed the rise in transportation and other items hit by POL prices, Irri 6 Sindh low type rose by Rs 25 to Rs2425 and Rs 2450. Basmati ID 89 Shahdadkot low type gained Rs 700 to Rs 5500, while better type was up by Rs 800 to Rs 5800. Basmati No 386 old and new types rose by Rs 300 to Rs 5500 and Rs 200 to Rs 5600. Super Basmati Sindh low type rose by Rs 500 to Rs 6500, while better type rose by Rs 400 to Rs 6600. Sela Basmati better type rose by Rs 500 to Rs 5500 and low type rose by Rs 400 to Rs 4500. Super Sela Karnal low type rose by Rs 300 to Rs 7800, while better type rose by Rs 200 to Rs 8000. Cotton cakes with bag inferior type rose by Rs 50 to Rs 1275, while better type was put at Rs 1300.
On Jodia Bazaar chemicals were mixed such as petroleum (per kg) white Iran was quoted at Rs 45. Sitara caustic soda flakes rose by Rs 7 to Rs 45, while caustic Taiwan ended higher by Rs 2 to Rs 46. Rangolite 'C' per pound China was down by Rs 2 to Rs 86, Germany's moved down by Rs 2 to Rs 86, same item from Germany shed Re 1 to Rs 89 and Iran lost by Re 1 to Rs 87. Hydro sulphite China 88 pc rose by Re 1 to Rs 80 and from Germany rose by Re 1 to Rs 69.
On Tuesday bullish trend continued on the wholesale commodity markets. On the grams side bajra low type rose by Rs 20 to Rs 2525, while better type was up by Rs 200 to Rs 3100. Cotton seed cakes inferior type rose slightly by Rs 50 to Rs 1280, while the good type rose by Rs 20 to Rs 1320. Rapeseeds cakes low type rose by Rs 15 to Rs 940, while better type rose by Rs 20 to Rs 950. Rapeseed Nawbshah was quoted at Rs 2400, rapseed Mirpur lane rose by Rs 50 to Rs 2350 and Rs 2375. Castorseed Lasbela shed Rs 100 to Rs 2200 and Rs 2400. Tea in Bangladesh surged by 1.59 percent.
On Wednesday Australian gram prices rose by Rs 300 to Rs 5390, gram better type rose by Rs 130 to Rs 5330, gram dal Australia strangely scaled down with wide margin by Rs 300 to Rs 5700, while better type by Rs 500 to Rs 5900. Yellow peas Canada rose modestly by Rs 250 to Rs 3200 and Rs 3350. Cottonseed cakes with bag low type posted fresh gain of Rs 50 to Rs 1280, while better quality was up by Rs 20 to Rs 1380.
On Thursday thin trading activity was seen due to lack of purchasing interest among the buyers. On the cereals side makai prices after maintaining a stable trend, tended higher by Rs 50 to Rs 2625-2650, other items did not move any side in process of trading. On the rice sector Irri-6 Sindh shed Rs 25 to Rs 3400-3425 and Irri-white, however, gained modestly by Rs 25 to Rs 2750-2775, other types maintained their overnight. On the seeds side cottonseed oilcake with bag Sindh low type shed Rs 10 to Rs 1270 and good type rose by Rs 20 to Rs 1310. Prices on the grams sector held the overnight levels.
Kirana items moved both ways On Jodia Bazaar. The changes were: KIRANA ITEMS (Per 40 kg): Black pepper Singapore edged down by Rs 500 to Rs 17,200, mace moved upward by Rs 2000 to Rs 98,000, nutmeg went higher by Rs 800 to Rs 28,000, big cardamom finished up by Rs 5000 to Rs 97,000, copra India ended higher by Rs 650 to Rs 7,050, Kalongee moved up by Rs 500 to Rs 10,000, dry ginger (China) closed higher by Rs 700 to 15,500, peanuts edged up by Rs 800 to Rs 4000 and Isbaghol Bhoosi went higher by Rs 500 to Rs 19,000.
On Friday not a single deal was reported on as all most all participants were busy in preparations for Juma prayers.
On Jodia Bazaar milk powder skimmed edged down. The changes were : MILK POWDER SKIMMED (Per bag of 25 kgs): Irish skimmed was quoted at Rs 8,500, Haleeb SMP was quoted at Rs 6,500 and Skim Pak moved lower by Rs 50 to Rs 5,350.
On Saturday business remained subdued, as both buyers and sellers failed to come on meeting ground. Grams Australia low type gained Rs 10 to Rs 5400 and good type was higher by Rs 100 to Rs 5650. Grams dal Australia low type was sharply up by Rs 900 to Rs 6600 and inferior type gained Rs 950 to Rs 6850. On the seed side only one change was seen as the cottonseeds oilcake with bag Sindh low type shed Rs 10 to Rs 1260 and better quality was higher at Rs 1290. Rates on the cereal and rice sectors remained unchanged due to balanced demand and supply.
On Jodia Bazaar chemical items closed down. The changes were : CHEMICAL ITEMS (Per kg): Caustic soda flakes Saudi was quoted at Rs 46, and Citric acid China edged down by Re 1 to Rs 108. PETROLEUM JELLY: White Iran was quoted at Rs 45 and Petroleum Jelly China was also quoted at Rs 71.