Fewer buyers for Eid camels as Pakistanis count the rupees

Published 2023년 6월 27일

Tridge summary

Farmers in Pakistan who have set up livestock markets in preparation for the annual Eid al-Adha festival are struggling to sell their animals due to high prices and inflation. Many people are unable to afford the animals for sacrifice, with middle-class Pakistanis in particular being affected. Farmers are facing losses due to rising costs and taxes, and the falling value of the Pakistani rupee is also impacting buyers' purchasing power.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(MENAFN- AFP) Teenager Amanullah Khan teeters on his tiptoes, daubing towering camels with festive henna patterns to entice Eid al-Adha customers at a market near the Pakistan capital. Hundreds of farmers have camped at livestock markets between Islamabad and its twin city Rawalpindi for two weeks, hoping to sell animals ahead of the annual holy festival starting Thursday in Pakistan. But with rampant inflation -- reaching a record 38 percent in May -- markets are attracting smaller crowds. Khan's cousin Zakaria brought 18 camels to market after good profits last year but has sold only one so far. "People's purchasing power is over. Customers are not coming to the market, and those who come prefer to return empty-handed due to the high prices of the animals," Zakaria, 21, told AFP. During the festival, Muslims around the world will slaughter an animal -- a goat, sheep, bull or camel -- keeping a third for themselves before giving a third to friends and relatives, and a third to ...

Source: Menafn