Karachi (HRNW) Following the release of containers carrying a variety of grain from the Karachi Port on Thursday, the prices of the daily-use commodity are likely to go down because of supply fix.
2,400 containers stuck at the port since months have finally been released, after making traders suffer heavy financial loses due to reduced sales.
However, at least 3,000 containers of grain and other food commodities are still awaiting release.
Wholesale Grocers Association Chairman Abdul Rauf Ibrahim said that as the supply of commodities will normalize in the market, their prices are expected to go down by up to Rs25 per kilogram.
He added that if more stuck containers are released, the prices of commodities will drop further before the holy month of Ramadan.