Animal prices see a steep decline on eve of Eid
Traders say markets are flooded with buyers, but all are out for a good bargain
Many of the cows have been sold for prices up to 20% lower. PHOTO: NNI
LAHORE:
Those fearing that sacrificial animal prices would be sky high ahead of Eid were put at ease on Friday as rates dropped significantly on the eve of Eidul Azha due to sluggish trade activity in makeshift cattle markets.
Speaking to The Express Tribune, several farmers and traders say all cattle markets are flooded with shoppers, but most people are trying to find a bargain. “Many are reluctant to pay even the animal transport expensive. Considering market sentiment and risks associated with the sacrificial animal trade, vendors have reduced prices of their livestock by 15 to 20%, depending on the size and appearance of the animal,” highlights Raees, one of the traders.
Another vendor, Waqas, points out that the sacrificial animals’ trade is lucrative, but risky at the same time. “You will be very lucky if you successfully sell all your stocks before Eid. Otherwise, you have to sell the animals to butchers in the city at throwaway prices because it is unfeasible to bring them back by paying thousands of rupees in carriage.”
A shopper at Eden Boulevard cattle market, Jameel Sheikh, claims he has been monitoring the price trends of animals on sale in different areas for the past week.
Earlier, most vendors were asking Rs35,000 to Rs40,000 for an average size goat, Rs28,000 to Rs30,000 for sheep and Rs70,000 to 80,000 for a cow. However, on the eve of Eid, the prices have started to come down. “Goat prices have been slashed by Rs4,000 to Rs6,000 per animal in Eden Boulevard cattle market and a similar trend is being witnessed in the price of other livestock,” he adds.
Ahmad Qureshi, who bought a pair of goats, indicates that vendors in different areas are asking Rs30,000 to Rs32,000 for similar-sized animals. “Today I bought two for Rs44,000 which I believe is a good bargain. Prices have dropped after rains in the city because animals get ill after downpours so traders try to sell their stock to avoid losses,” he concludes.
Traders’ protest
Sacrificial animal traders complain of increasing incidents of theft and cash snatching in makeshift cattle markets of the city. A group of traders also protested against the local police for failing to provide security to these cattle markets. Animal farmers and traders blocked Bund Road and chanted slogans against the police force. They demanded authorities ensure better security at cattle markets, arrest of looters and recovery of their money.
Published in The Express Tribune, September 2nd, 2017.
Those fearing that sacrificial animal prices would be sky high ahead of Eid were put at ease on Friday as rates dropped significantly on the eve of Eidul Azha due to sluggish trade activity in makeshift cattle markets.
Speaking to The Express Tribune, several farmers and traders say all cattle markets are flooded with shoppers, but most people are trying to find a bargain. “Many are reluctant to pay even the animal transport expensive. Considering market sentiment and risks associated with the sacrificial animal trade, vendors have reduced prices of their livestock by 15 to 20%, depending on the size and appearance of the animal,” highlights Raees, one of the traders.
Animal ornament vendors make the most of Eidul Azha
Another vendor, Waqas, points out that the sacrificial animals’ trade is lucrative, but risky at the same time. “You will be very lucky if you successfully sell all your stocks before Eid. Otherwise, you have to sell the animals to butchers in the city at throwaway prices because it is unfeasible to bring them back by paying thousands of rupees in carriage.”
A shopper at Eden Boulevard cattle market, Jameel Sheikh, claims he has been monitoring the price trends of animals on sale in different areas for the past week.
Earlier, most vendors were asking Rs35,000 to Rs40,000 for an average size goat, Rs28,000 to Rs30,000 for sheep and Rs70,000 to 80,000 for a cow. However, on the eve of Eid, the prices have started to come down. “Goat prices have been slashed by Rs4,000 to Rs6,000 per animal in Eden Boulevard cattle market and a similar trend is being witnessed in the price of other livestock,” he adds.
Ahmad Qureshi, who bought a pair of goats, indicates that vendors in different areas are asking Rs30,000 to Rs32,000 for similar-sized animals. “Today I bought two for Rs44,000 which I believe is a good bargain. Prices have dropped after rains in the city because animals get ill after downpours so traders try to sell their stock to avoid losses,” he concludes.
Eidul Azha: Sheikh Rasheed to sacrifice camels
Traders’ protest
Sacrificial animal traders complain of increasing incidents of theft and cash snatching in makeshift cattle markets of the city. A group of traders also protested against the local police for failing to provide security to these cattle markets. Animal farmers and traders blocked Bund Road and chanted slogans against the police force. They demanded authorities ensure better security at cattle markets, arrest of looters and recovery of their money.
Published in The Express Tribune, September 2nd, 2017.