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High transport charge to hold rice prices

KARACHI: Pakistani rice prices held on to previous levels this week amid slow international demand and were expected to remain unchanged due to higher transportation charges ahead of Eid al-Adha festival.

"The months of March and April are usually a slow period for exports," said a Karachi-based exporter.

He said five ships were loading 60,000 tonnes of IRRI-6 rice mostly for Africa but there was no fresh demand.

The exporter said transport companies had raised their charges for carrying rice bags since there was a rush for movement of cattle on trucks ahead of Eid al-Adha, when moslems sacrifice these animals.

Basmati traders said Oman had raised its order for Basmati rice from 7,500 tonnes to 10,000 tonnes and there was more demand expected from the Gulf.-Reuters