COMMODITY NOTES FOR APRIL 2003.

Wheat

As reported by the Crop Reporting Service, Overall condition of the Wheat crop remained normal. Wheat grains of the top earnings have shrinked due to stormy weather during the month of March. The harvesting and threshing of wheat crop remained in progress. According to the field reports about 70 to 80 percent harvesting and 50 percent threshing of wheat crop has almost been completed by the end of the month under report. Normal yield is expected this year.

Wheat market recorded bearish tendency during the period under report and prices found decrease in the range of Rs. 8.55 to 12.29 percent in all the main markets of the province as compared to the prices of last month. Prices decreased due to arrival of new wheat crop in the market. When compared the prices of the current month with the corresponding period of last year, bullish tendency was registered in the range of 3.18 to 9.74 percent in all the main markets of the province.

On an average wheat prices during the period under review remained in between Rs. 778.00 to 834.00 per quintal against Rs. 862.00 to 912.00 per quintal of the last month. Prevailing prices of wheat during the Second fortnight of the current period (harvesting season) remained less than the procurement / support price which is Rs. 750.00 per quintal. Wheat prices during the corresponding period of last year were at low side and prevailed in the range of Rs. 736.00 to 761.00 per quintal in the main markets of the province. Wheat market is likely to increase during the coming month due to less production during this year and less arrival of new produce in the market.

Maize

Maize market registered declining tendency during the period under report and prices found decrease in the range of 2.03 to 12.15 percent in the main markets of the province as compared to the prices of last month. Maize market is likely to decrease slightly in the coming period due to arrival of new spring crop.

Average wholesale prices of Maize during the month under report prevailed in the range of Rs. 712.00 to 825.00 per quintal against Rs. 787.00 to 889.00 per quintal of last month. Maize prices during the corresponding period of last year were at high side and remained in between Rs. 905.00 to 928.00 per quintal in the main markets of the province which depicted declining tendency in the range of 11.10 to 23.03 in all the main markets of the province as compared to the prices of the corresponding period of last year.

Rice Basmati

Rice Basmati market registered negative response in prices during the period under report and prices found decrease in the range of 0.94 to 6.85 percent in the main markets of the province as compared to the prices of last month. When compared the prices of the current month with the corresponding period of last year, it depicted declining tendency in the range of 3.51 to 8.51 percent

On an average Rice Basmati prices during the period under report remained in between Rs. 2255.00 to 2319.00 per quintal against Rs. 2325.00 to 2480.00 per quintal of the last month. Rice Basmati prices during the corresponding period of last year remained in between Rs.2337.00 to 2525.00 per quintal in the main markets of the province. Rice Basmati market is likely to depress in the coming month due to less export of rice.

Rice IRRI

With the exception of Gujranwala market where Rice IRRI prices recorded slight decline @ 0.50 percent, all other main markets of the province showed inclining tendency in the range of 0.52 to 3.36 percent as compared to the prices of the last month. Rice IRRI market is likely to decrease in the coming period due to less demand.

Average wholesale prices of Rice IRRI during the current month prevailed in the range of Rs. 867.00 to 995.00 per quintal against Rs. 861.00 to 1000.00 per quintal of last month. Rice prices during the corresponding period of last year remained in between Rs. 844.00 to 998.00 per quintal in the main markets of the province which depicted mixed price trend, Lahore, Faisalabad and Gujranwala markets registered increasing tendency by 2.42, 5.57 and 11.80 percent respectively whereas Sargodha and Multan markets registered bearish tendency @ 6.11 and 5.97 percent respectively as compared to the corresponding period of the last year.

Gur Fine

Mixed price trend has been realized during the period under review, Lahore and Faisalabad markets depicted inclining tendency by 19.13 and 4.24 percent respectively whereas Sargodha, Multan and Gujranwala markets found declining tendency @ 1.63, 6.71 and 1.37 percent respectively as compared to the prices of the last month. Gur market is likely to improve in the coming month due to more demand during summer season.

Gur Fine has been found selling in the range of Rs. 1292.00 to 1517.00 per quintal against Rs. 1150.00 to 1538.00 per quintal of last month. Gur Fine prices during the corresponding period of last year remained in between Rs. 1340.00 to 1475.00 per quintal in the main markets of the province which depicted bearish tendency in the range of 0.97 to 12.41 percent in all the main markets of the province except Gujranwala market where Gur prices showed inclined @ 5.27 percent as compared to the prices of the corresponding period of last year.

Sugar Refined

Sugar Refined market registered declining tendency during the period under report and prices found slight decrease in the range of 1.01 to 1.81 percent in the main markets of the province as compared to the prices of last month. When compared the prices of the current month with the corresponding period of last year, it depicted bearish tendency in the range of 8.96 to 9.28 percent in all the main markets of the province.

On an average Sugar Refined prices during the current month remained in between Rs. 1845.00 to 1880.00 per quintal against Rs. 1868.00 to 1907.00 per quintal of the last month. Sugar Refined prices during the corresponding period of last year were at high side and prevailed in the range of Rs.2031.00 to 2067.00 per quintal in the main markets of the province. Sugar market is likely to depress slightly in th coming month due to more produce and better stock position.

Gram Whole

According to the second estimate of the Gram crop for the year, 2002-03 issued by the Crop Reporting Service, the area is placed at 841300 hectares (2078900 acres) as compared to 816000 hectors (2016400 acres) during last year. The area shows an increase of 3.1 percent over the previous year, which is due to availability of soil moisture at the sowing time of the crop.

The province of the Punjab is estimated to have produced 524200 tonnes of gram crop during the current year against 304200 tonnes produced during the last year. The production shows an increase of 72.3 percent over the previous year, which is due to corresponding increase in area and better yield obtained.

The harvesting of gram crop has almost been over and its threshing is on the peak. Gram Whole market registered bearish tendency during the period under report and prices found decrease in the range of 1.90 to 16.96 percent in the main markets of the province as compared to the prices of last month. Gram market is likely to decrease in the coming period due to better arrival of new crop in the market.

Average wholesale prices of Gram Whole during the current month prevailed in the range of Rs. 1438.00 to 1675.00 per quintal against Rs. 1520.00 to 1975.00 per quintal of last month. Gram Whole prices during the corresponding period of last year were at high side and prevailed in the range of Rs. 2203.00 to 2790.00 per quintal in the main markets of the province, which depicted steep decline in the range of 32.14 to 41.22 percent in all the main markets of the province as compared to the prices of the corresponding period of last year.

Mash Whole

Mash Whole market registered downward trend during the period under report and prices found decrease in the range of 2.23 to 8.25 percent in the main markets of the province as compared to the prices of last month.. When compared the prices of the current month with the corresponding period of last year, it depicted mixed price trend, Lahore and Sargodha markets recorded inclining tendency by 9.01 to 5.74 percent respectively whereas Faisalabad, Multan and Gujranwala markets found decrease @ 3.65, 11.26 and 4.15 percent respectively.

Prevailing prices of Mash Whole during the current month remained in between Rs. 1916.00 to 2542.00 per quintal against Rs. 2000.00 to 2600.00 per quintal of last month. Mash Whole prices during the corresponding period of last year prevailed in the range of Rs. 1812.00 to 2410.00 per quintal in the main markets of the province. Mash market is likely to remain constant in the coming period.

Masoor Whole

The harvesting and threshing of the Linseed crop has almost been completed. Masoor Whole market recorded mixed price trend during the period under report, Lahore and Multan markets depicted inclining tendency by 1.62 and 5.57 percent respectively whereas Faisalabad, Sargodha and Gujranwala markets showed declining tendency @ 3.89, 7.58 and 2.03 percent respectively as compared to the prices of the last month. Masoor market is likely to depressed in the coming month due to arrival of new produce in the market.

Masoor Whole has been found selling in the range of Rs. 2075.00 to 2520.00 per quintal against Rs. 2159.00 to 2475.00 per quintal of last month. Masoor prices during the corresponding period of last year remained in between Rs. 2081.00 to 2415.00 per quintal in the main markets of the province which depicted inclining tendency in the range of 3.43 to 9.83 percent in all the main markets of the province except Faisalabad market where Masoor Whole prices found decline @ 7.37 percent as compared to the prices of the corresponding period of last year.

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