Inflation keeps buyers away

Cattle market footfall much less than past years say traders

KARACHI:

The cattle market set up in Federal B area has welcomed approximately 5000 sacrificial animals. However, buyers are expressing their concern over the soaring prices of animals this year.

Owing to the inflation rate, citizens are turning to Madrassas and welfare institutions for collective sacrifices to fulfill their religious obligation, while traders are eagerly awaiting potential buyers with Eid-ul-Azha just a few days away.

With less than two weeks remaining until the Eid, Karachi has established a central cattle market on the Northern Bypass, in addition to numerous small and large markets spread across the city, such as Cattle Colony, Malir Mandi, Hassan Square's temporary goat market, and Sohrab Goth's market.

Meanwhile, citizens are actively visiting cattle market established in Federal B Area near Sohrab Goth owing to its proximity to their homes and sense of security owing to presence of police and Rangers.

As of now, approximately 5,000 sacrificial animals have been brought to the cattle market. The traders have made satisfactory arrangements in the two-acre market, but unfortunately, the market lacks buyers.

The prices of sacrificial animals, sourced from Sindh, Punjab, and Balochistan, have more than doubled. Cattle market In-charge, Ahmar, expressed his concern over the diminished purchasing power of citizens due to the high cost of animals. "Only 10 per cent of the expected buyers have shown up at the market so far," he said.

The in-charge explained that they were compelled to sell the sacrificial animals at inflated prices due to the rising costs of fodder and transportation. Sellers further highlighted that the scorching heat has also deterred people from visiting the market in afternoon.

However, as the evening sets in, a stream of visitors starts flowing into the market. Most citizens prefer visiting the cattle markets on Saturdays and Sundays. A buyer, Rizwan, speaking to The Express Tribune, voiced his concerns about inflation, stating that livestock prices this year have shattered all previous records.

Despite visiting the market for three consecutive days, he has been unable to purchase an animal. As compared to last year, prices have skyrocketed by 60 per-cent, said.

He added that for instance, an animal that cost Rs130,000 last year is now being sold for Rs300,000. Affordability has become a challenge for everyone, he said adding people will now have to turn to welfare organisations for collective sacrifices to fulfil their religious obligation.

Another buyer, Raheel, expressed relief over the security arrangements in the various cattle markets across Karachi, which mitigates the risk of cash snatching by muggers on way to the main market on Northern Bypass. He said that the main market offers better prices, but the road conditions are poor. Consequently, individuals are compelled to visit smaller markets in the city.

Published in The Express Tribune, June 19^th, 2023.