RAWALPINDI:
Commercial markets and cattle bazaars across the twin cities of Rawalpindi and Islamabad saw an unprecedented slowdown in commercial activity ahead of Eidul Azha, with traders reporting record low sales of sacrificial animals as well as Eid shopping by women and children.
Amid sluggish business, livestock traders announced significant price cuts for sacrificial animals during the first, second and third days of Eid after failing to achieve expected sales volumes.
Traders also stated that they would refrain from selling animals to slaughterhouses, despite offers reportedly ranging between Rs100,000 and Rs120,000 for individual bulls.
All 12 cattle markets across the region remained heavily crowded as of 1 p.m. 10 pm Monday to Sehri around 05:00 as families accompanied by children continued to visit the bazaars in large numbers.
However, most potential buyers reportedly returned without making a purchase due to reduced purchasing power. Many families were expected to make another attempt during the intervening night between Tuesday and Wednesday, from midnight to dawn.
Some households managed to buy smaller goats and sheep for less than Rs 100,000. The traditional neighborhood-based collective sacrifice system, in which seven individuals jointly share the price of a cow or bull, saw a remarkable resurgence. The “shared Qurbani” arrangement reportedly surged in popularity this year, with individual shares being fixed between Rs40,000 and Rs50,000.
In areas including Rawat and Kallar Syedan, the sale of animals by live weight also failed to stimulate demand. Some quarters openly criticized the practice of buying sacrificial animals by weight, describing it as inappropriate and contrary to the spirit of Eidul Azha.
By Tuesday evening, prices at five major cattle markets had already been reduced by between 10 and 15 percent, although traders admitted the cuts did not provide the desired sales momentum. With expectations of further price cuts from midnight until the first day of Eid on Wednesday, many families chose to postpone shopping in anticipation of lower prices.
In the last trading period before Eid, bulls continued to sell for between Rs 350,000 and Rs 500,000, while goats and sheep fetched around Rs 150,000. Camels were sold in the range of Rs800,000 to Rs1 million.
