Magazine article Economic Review

Price Situation (April 2002)

Magazine article Economic Review

Price Situation (April 2002)

Article excerpt

During April, Karachi wholesale commodity market experienced mixed trend, the prices of most of the commodities declined while those of others rose. The most palpable fall was witnessed in the price of wheat because of arrivals of new crop. Wheat price which has plunged sharply, in March because of larger new crop arrivals and slow mill demand, however, recovered from the early lows amid talk of export deals with some of the countries.

The prices of basmati, sugar, cottonseed oil cakes, sulphur 501 dyes China, acetic acid Korea, and cotton fell, because of slackness in demand, stable rupee dollar parity and rise in inventories. Cotton market remained lacklustre due to extraordinary heat and lower spinning mill demand.

The prices of gram imported, rapeseed, ghee vanaspati and gold increased Gold price rose because of jump in the international price due to soft dollar.

The price of vanaspati ghee jumped on the reports that GST at 15 per cent is going to be levied before the budget as part of PRGF programme in order to qualify for the third tranche of $109 million in June. The traders therefore, began hoarding in anticipation of the GST levy.

The prices of other items namely tea, powder milk, caustic soda, formic acid and yarn remained unchanged as their demand was lacklustre.

Karachi Wholesale Prices (2002)

(Rupees)

                                        March        April       (%age)
                                     30, 2002     30, 2002       Change

GRAIN:
Wheat - New (100 kg)                  700/715          680    2. … 
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