Sacrificial animals: Late shoppers fail to get expected price drop

Heavy sales on Chand Raat leave markets short on Eid day.

LAHORE:

The price of sacrificial animals failed to drop on Eid day as traders managed to sell off most of their stock the night before, allowing them to demand high prices for the few remaining animals.

All seven markets for the sale of sacrificial animals witnessed heavy activity on the eve of Eid, with many buyers able to negotiate good deals as traders feared being left with large herds that they would have had to sell at cut-price rates. But the tables turned on Eid day, as shoppers hoping to capitalise on the traditional drop in price faced up to a supply shortage.

The asking price for a large goat was around Rs40,000 on Chand Raat, but aggressive bargainers were able to clinch deals for as low as Rs25,000. Smaller goats with an asking price of up to Rs25,000 could be had for as low as Rs15,000. Traders were asking for between Rs60,000 and Rs80,000 for calves and selling them for Rs50,000-60,000. The asking price for a buffalo was as high as Rs400,000.

Most of the good animals were sold out by Eid day, leaving a handful of smaller goats and calves available in the markets. Days before Eidul Azha, city government officials said that a record number of sacrificial animals had been brought to the city. Last year, animal markets at Shahpur Kanjran, LDA Avenue 1 and Saggian remained packed on Eid day.

Yawar Hayat, a Township resident who went shopping at the LDA Avenue 1 market on Wednesday, said that he was surprised that there were so few animals still for sale. “I came here the day before Eid but prices were too high. I expected them to come down by today,” he said. “There are only five good animals left in the entire market, and they are still out of my range. Prices haven’t dropped as they normally do.”

Faisal Shah from Harbanspura bought two small goats for a total of Rs27,000 from the Saggian market on the day after Eid. “I came to buy a bigger goat, but I couldn’t find one,” he said. “I don’t know how my family will react to this purchase. Next year, I will buy at least a week before Eid to save myself the embarrassment.”

Waheed Usmani, a trader at Saggian, said that he had brought 22 animals to the market and had sold 18 before Eid day. He said that the eve of Eid had been unexpectedly busy for the traders.

“Traders were panicking with a day left till Eid because of the excessive stock in the markets. By Tuesday evening many were selling at big discounts and there were good deals to be had. Then in the morning we realised that there were not many animals left. Traders left with good animals demanded higher prices and got them,” he said.

Published in The Express Tribune, October 19^th, 2013.