RAWALPINDI:
Trading markets and livestock bazaars in the twin cities of Rawalpindi and Islamabad have seen an unprecedented slowdown in trading activity ahead of Eidul Azha, with traders reporting record sales of sacrificial animals as well as purchases of women and children on Eid.
Amid slowing business, livestock traders announced substantial reductions in prices of sacrificial animals during the first, second and third days of Eid, after failing to achieve expected sales volumes.
Traders also said they would refrain from selling animals to butchers, despite offers ranging between Rs100,000 and Rs120,000 for individual bulls.
The 12 livestock markets in the area remained busy from 10 p.m. Monday until Sehri around 5 a.m., as families with children continued to visit the bazaars in large numbers.
However, most potential buyers would have returned without making any purchases due to their diminished purchasing power. Many families are expected to make another attempt during the night between Tuesday and Wednesday, from midnight to dawn.
Some households have managed to purchase smaller goats and sheep for less than Rs100,000. However, the traditional neighborhood-based system of collective sacrifice, in which seven individuals jointly share the cost of a cow or bull, has seen a notable resurgence. The ‘Shared Qurbani’ arrangement is said to have gained popularity this year, with individual shares priced between Rs 40,000 and Rs 50,000.
In areas like Rawat and Kallar Syedan, sale of live weight animals has also failed to boost demand. Some quarters have openly criticized the practice of purchasing sacrificial animals by weight, calling it inappropriate and against the spirit of Eidul Azha.
By Tuesday evening, prices at five major livestock markets had already been reduced by 10 to 15 percent, although traders admitted that these reductions had failed to generate the desired sales momentum. With the expectation of a further drop in prices from midnight until the first day of Eid on Wednesday, many families have chosen to delay their purchases in anticipation of a drop in prices.
During the last trading period before Eid, bulls continued to sell for between Rs 350,000 and Rs 500,000, while goats and sheep sold for around Rs 150,000. The camels were sold for between 800,000 and 1 million rupees.
