Home Life Style Skyrocketing Prices Dampen Eid-ul-Azha Livestock Markets in Peshawar

Skyrocketing Prices Dampen Eid-ul-Azha Livestock Markets in Peshawar

Many citizens expressed their dilemma about fulfilling the obligation of sacrifice despite the high prices.
by Aftab Mohmand - 10 Jun, 2024 71

The livestock markets in Peshawar for Eid-ul-Azha have struggled to attract buyers due to soaring prices. While buyers are burdened by the high costs, traders themselves are also grappling with inflation.

Citizens like Mohammad Ayaz, Shahid Ali, and Sarfaraz Khan shared with TNN that they have observed at least a 20% increase in the prices of large animals such as cows and buffaloes compared to last year. For instance, an animal priced at 130,000 rupees last year now costs 180,000 rupees. Similarly, the prices of smaller animals like sheep and goats have also surged by over 20%. Whether in Peshawar or other areas, citizens continuously visit the markets, day and night.

Many citizens expressed their dilemma about fulfilling the obligation of sacrifice despite the high prices. As a result, fewer buyers are frequenting the markets. Previously, individuals could afford to sacrifice an animal independently, but now, three or four people often share an animal for a joint sacrifice. Even after exploring major livestock markets like the ones on Ring Road and Kala Mandi, they turn to smaller markets only to find prices that still exceed 100,000 rupees.

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In such a situation, citizens believe that while previously 20% of the population might have been unable to afford a sacrifice, this proportion could rise to 30% or more this year. They are hoping that in the last couple of days before Eid, the prices will drop, allowing them to purchase animals.

Traders, who are also victims of inflation, told TNN that the main reasons for this year's price hike include increased transportation costs, high taxes, and the rising cost of animal feed. Many traders bring livestock from Punjab, where prices have also increased. Earlier, a trader might have brought 10 animals, but now they bring up to 50 to ensure they sell enough, even if it means selling to butchers at lower prices post-Eid.

Traders are concerned about the low levels of buying and selling in the markets this year, partially due to the heat. They hope that purchases will increase in the final days before Eid, as buyers have no choice but to purchase animals. They strive to keep profit margins reasonable to avoid burdening the public, but high costs mean higher consumer prices.

The traders at the largest small animal market on Peshawar’s Ring Road shared with TNN that while over 100,000 animals were brought to this market last year, this year's total is not even 30,000. The main reason for this decrease is the lack of imports from Kabul, Afghanistan. Due to this shortage, the prices of sheep and goats have increased significantly, causing distress for buyers and traders.

This is the prime season for traders, but due to inflation, this year’s market activity has been disappointing. The costs have risen, and the buying and selling chain has been severely impacted. After this season, many traders might have to close down their businesses.